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A new era for commodities Cheap resources underpinned economic growth for much of the 20th century. The 21st will be different. NOVEMBER 2011 * Richard Dobbs, Jeremy Oppenheim, and Fraser Thompson Source: McKinsey Global Institute, Sustainability & Resource Productivity Practice In This Article Exhibit: In little more than a decade, soaring commodity prices have erased a century of steady declines. About the authors Comments (2) Has the global economy entered an era of persistently high, volatile commodity prices? Our research shows that during the past eight years alone, they have undone the decline of the previous century, rising to levels not seen since the early 1900s (exhibit). In addition, volatility is now greater than at any time since the oil-shocked 1970s because commodity prices increasingly move in lockstep. Our analysis suggests that they will remain high and volatile for at least the next 20 years if current trends hold-barring a major macroeconomic shock-as global resource markets oscillate in response to surging global demand and inelastic supplies. Back to top Demand for energy, food, metals, and water should rise inexorably as three billion new middle-class consumers emerge in the next two decades.1 The global car fleet, for example, is expected almost to double, to 1.7 billion, by 2030. In India, we expect calorie intake per person to rise by 20 percent during that period, while per capita meat consumption in China could increase by 60 percent, to 80 kilograms (176 pounds) a year. Demand for urban infrastructure also will soar. China, for example, could annually add floor space totaling 2.5 times the entire residential and commercial square footage of the city of Chicago, while India could add floor space equal to another Chicago every year. Such dramatic growth in demand for commodities actually isn't unusual. Similar factors were at play throughout the 20th century as the planet's population tripled and demand for various resource

JMV's much advanced LT Line Surge Arrestor designed to reduce costly downtime and protect sensitive electronic equipment against the destructive effects of transients.

"Fish farming holds tremendous promise in responding to surging demand for food which is taking place due to global population growth, the report says."

According to data from Chinese Customs, Chinese final imports of refined copper totalled 238,828t in December, a fall of 4 7% m-o-m from November, and the second lowest reading of 2012. Despite this, full-year imports of refined copper in 2012 surged to their highest year on record, at 3.4Mt, as a result of the large volumes of copper being imported on long term contracts in 2012. While the pickup in imports of refined copper was strong in 2012, demand from downstream users did not match the pickup in imports. According to a report from Reuters, this has resulted in large amounts of cathode sitting in bonded warehouses rather than being absorbed by the domestic market.

LONDON (MarketWatch) -- Lonmin shares surged on Wednesday after Swiss rival Xstrata launched an unsolicited $10 billion takeover bid for the platinum producer, with the move sparking gains across the entire London-listed mining sector. Lonmin (UK:LMI: news, chart, profile) shares traded 46.9% higher at 34.06 pounds, above the 33 pounds a share that Xstrata said it's prepared to pay to take control of the platinum producer in order to boost its own production of the metal.

The Anglo-Dutch steel producer, which this week announced the elimination of 2,500 jobs at its UK plants, says the surge in British electricity prices from £24 a megawatt hour to £75 MWh over the past five years has been greater than "virtually anywhere else in Europe". If that is so, Britain's liberalised energy market is serving its users ill.

LONDON (Reuters) - The booming mining sector may have peaked in terms of net profit margins after costs surged more than revenues last year for top firms, a report released on Tuesday by PricewaterhouseCoopers said.

NEW DELHI: The Centre Government has imposed a provisional anti-dumping duty on certain high-end stainless steel products to guard the domestic industry from surges in cheaper imports from China, Thailand and the U.S.

Shares in copper miners have surged over the past two months, but...

The technology is capable of carrying 10 times as much power as copper wires of the same size, while also being able to automatically adapt to power surges and disruptions from lightning strikes, heat waves, and traffic accidents, even sabotage. A single superconductor cable can replace 12 copper cable bundles, freeing up more space underground for other utility needs like water, natural gas, or phone service.