The past year has seen dramatic declines in the prices of global commodities. Between June 2014 and the beginning of this year, crude oil prices fell by 50 percent to around $50 a barrel. Similarly, mineral prices have seen a drastic fall since the peak of the “commodity supercycle” in early 2011. Between then and April of this year, iron ore prices fell by 70 percent, coal prices by 54 percent and copper prices by 40 percent.
Lisa E. Sachs & Nicolas Maennling,
Resource Resilience: How to Break the Commodities Cycle,
World Politics Review, May 26, 2015
Available at: https://scholarship.law.columbia.edu/sustainable_investment_staffpubs/131