Commodity goods forecast

DOI: http://dx.doi.org/10.30686/1609-9192-2021-5-57-64

V.B. Kondratiev Institute of World Economy and International Relations of the Russian Academy of Sciences, Moscow, Russian Federation Russian Mining Industry №5 / 2021 р. 57-64

Abstract: The last twenty years have been a favorable period for the global economy. Asian economies grew rapidly, which boosted the demand for key commodities such as gold, copper and iron ore, and increased mining employment worldwide. This growth has been largely driven by the process of globalization and the rising welfare of population in the emerging markets such as China and India. The world is now entering a more dangerous phase of its development, as political and economic tensions between China and the United States are increasing and threaten to nullify the results of the economic progress. A rollback to protectionism and de-globalization may occur. Asia has been the engine of the mining industry, and commodity prices have helped to determine the prospects of the mining cycle. A number of commodities, including copper, have rebounded from their lows in recent months. This suggests that a new phase of economic recovery is starting to gain momentum, opening a new phase in the expansion of the global mining sector.

Keywords: commodities, demand drivers, price dynamics, precious metals

For citation: Kondratiev V.B. Commodity goods forecast. Gornaya promyshlennost = Russian Mining Industry. 2021;(4):57–64. (In Russ.) DOI: 10.30686/1609-9192-2021-5-57-64.

Article info

Received: 22.06.2021

Revised: 13.07.2021

Accepted: 27.08.2021

Information about the author

Vladimir B. Kondratiev – Doctor of Science (Economics), Professor, Head of Center for Industrial and Investment Research, Institute of World Economy and International Relations of the Russian Academy of Sciences, Moscow, Russian Federation; e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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