Commodity gains are sustainable, argues Citi

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Commodity gains are sustainable, argues Citi

September 10, 2009

Concerns have been raised that once the impact of fiscal stimulus measures passes, commodity prices could fall back. But David Thurtell, metals strategist at Citi, believes that private sector buying will take up the baton.

Base metal prices and commodities generally have rebounded sharply in 2009. A number of factors have driven the rebound, not least government fiscal stimulus measures to revive economic growth.

Further commodity price gains are likely over the next 12 months,...

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OFFSHORE RMB DCM

Rank

Bookrunner

Value ($m)

No.

%Share

2011 YTD Rank

HSBC

1,439

33.0

Bank of China Ltd

1,079

24.8

Standard Chartered Bank

513

11.8

Citi

208

4.8

Barclays

198

4.5

Deutsche Bank

159

3.6

Goldman Sachs

152

3.5

RBS

136

3.1

BNP Paribas

2.2

JPMorgan

1.8

Subtotal

4,059

93.2

Total

4,356

100.0

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