JP Morgan and Scotiabank thinks the commodities supercycle will last another 15years. Should be good for copper long term.
"Urbanisation in India is projected to double over the next 15 years. If this happens, a total of 590 million Indians would be city dwellers by 2030.
Gregson says that in order to accommodate this rural exodus, "India would have to build between 700 million and 900 million square metres of residential and commercial space and around 350-400km of subway every single year – 20 times the rate seen over the past decade."
Forecasts by Scotiabank commodity market specialist Patricia Mohr support Gregson's claim, at least for the near future. Mohr lists a number a market factors that will support a general upward trend in base metal and agricultural commodities prices over the next two years:"
