BRICS Unlikely to Drive Commodities Demand
Sunday, January 24, 2016 22:26
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Slowdown to affect emerging and frontier market demand.
by Prinesha Naidoo
Mine Web
JOHANNESBURG – “Another day, another record high in commodity prices,” wrote Goldman Sachs analysts in a May 2006 report in which they said the BRICs – Brazil, Russia, India and China – would continue to fuel demand for a wide range of commodities.
Almost ten years later, the commodities super-cycle is over, the BRICS economies – now including South Africa – are in trouble and the demand prospects for commodities appear bleak.
Much of the commodity markets woes are being blamed on slowing growth in China and an oversupply driven by some of the large mining companies’ rush to capitalise on the country’s economic heydays.
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