Bill Evans, chief economist at Westpac, pointed out that after China’s unprecedented hoarding of iron ore for steelmaking this year, iron ore prices will fall next year. He also pointed out that oil prices may also fall as global demand for oil slows. Mr. Evans said that the fall in iron ore prices next year will be higher than he expected, on the grounds that China’s investment in real estate boom is fading after a “dangerous†surge in housing construction in China, which has almost doubled its potential demand. Mr. Evans pointed out at the RIU Purification Oil Conference held in Fremantle, Australia's west coast city on September 6th. “It is expected that people will see a sharp decline in iron ore prices. I expect iron ore prices to start falling. I suspect that iron ore currently has a certain amount of inventory. Very large inventories, unprecedented stocks, so iron ore prices are prone to inflection points.†Mr. Evans said that although China will buy iron ore in the next 12 months The aspect is “sighing with one breathâ€, but as long as the government curbs high inflation, China’s purchase of iron ore will resume, as China will continue to advance unprecedented industrialization. Since China has so far failed to curb inflationary pressures, it needs to strike a balance between increasing housing supply. The Chinese government is curbing the housing investment bubble and inflationary pressures, balancing and curbing the momentum of economic growth. Mr. Evans pointed out that although the industrial output value of the OECD countries declined, in the long run, oil prices will rise from the current 83 US dollars / barrel to 100 US dollars / barrel. Mr. Evans is more skeptical about the prospects for short-term oil prices. He pointed out that global economic growth will push oil prices up, the key factor - the next year's oil production growth has the possibility of falling below 3.5%. We think this is a low point. Stock resource analyst Peter Strachan pointed out that due to tight supply, oil prices will rise more than all other commodities. For the same reason, he is also optimistic about the copper price market. So far, the copper that has been mined and consumed has reached 550 million tons, and will consume 550 million tons in the next two decades. But where does this copper come from?
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