As expected things are slowing down big time. I reckon he's right. Many will reckon he's wrong. Time will tell.
"Prices reached a record $US191.90 a metric tonne on February 16 last year and may plunge as low as $US50 a metric tonne before the middle of next year, according to Andy Xie, a former Morgan Stanley chief Asia-Pacific economist. They haven’t traded at that level since contract prices were set at $US47 a tonne in 2006."