The prospect of global economy recovery and weaker dollar in the 2Q09 pushed commodity to 1-year high level after bottoming somewhere in early 1Q09.
But, due to the fact that equity markets, especially the US and European, had yet to play catch-up, prices came off their highs as concerns over- i) “getting ahead too fast” ii) inflation fears –cropped up in late 2Q09. Still, prices remain in an upward trajectory.
Shanghai top the list. Exports-oriented markets like Taivan, Singapore did very well too after a disastrous 2008. Shanghai gains came after the announcement of its stimulus packag
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