Abstract: Since the second quarter of last year, prices of industrial commodities have risen sharply as the disease in China has been rapidly contained and the global economy has gradually recovered. This round of increase can be contributed to a combination of factors which are not only the rapid rebound in demand and the constraint of supplies but also the insufficient inventories, logistics bottlenecks and monetary easing polices of the western countries. Under current circumstances, the global economy is still in the process of recovery. Developed economies that have a large demand of industrial commodities pick up faster while some developing countries which play the role of suppliers are still severely affected by the epidemic. Given the insufficient inventories, high shipping cost and the monetary easing polices of western countries, we expect that industrial commodity prices may remain fluctuated in the high position in the first half of the year.

Full report: https://thinktank.phbs.pku.edu.cn/2021/zhuantibaogao_0520/28.html