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Trends in the global commodities market in 2016 and prospects for 2017

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  • Maria Cartas

Abstract

The article analyses the global commodities market development in 2016, pointing out to the continuation of the declining prices for most of commodities and especially for oil ( trend that started in 2012, after about a ten year price boom). The main factors responsible for the downward price trend are the oversupply (increased volumes of production and stocks), as well as declining oil prices, but also the slow demand increase, on the ground of the slow world economy growth and especially in China, the major consumer of natural resources. Prospects for 2017 show slight price increases both for oil and for non-oil commodities, followed by new declines in 2018, as the low price levels attained by most of commodities (as compared with the record prices of 2011-2012 ) have resulted in reduction of production capacities and discouraged new investments . On the other side, the demand increase depends on the recovery of the world economy growth.

Suggested Citation

  • Maria Cartas, 2017. "Trends in the global commodities market in 2016 and prospects for 2017," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 221-228.
    • Handle: RePEc:iem:conjun:y:2017:p:221-228
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