prices will remain elevated in the medium-term, given that real yields, which strip out the effects of inflation, are likely to remain low.
But prices have rebounded quickly, and all except aluminum and lead are now higher year-to-date, James O'Rourke, a commodity economist's report showed. Despite the year's rally, prices can be expected to rise a little more by end-2021, he wrote. The huge stimulus-led price rally after the great financial crisis came on the back of massive credit growth, on a scale which might not be repeated this time, the report said.recent drop to a two-month-low shows its fragile nature of price recovery. An uneven recovery in demand, and the effect of vast surplus oil inventories accumulated in the first half of the year will likely limit any price gains. Brent is unlikely to see much in the way of price gains over the remainder of the year.
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