Commodities have certainly taken a tumble with uptake and prices for metals and coal retreating to levels that have resulted in many mine closures. In Australia, the major miner have suffered declines in earning resulting in share prices hitting lows not seen since 2008/09.
China is now more focused on achieving a balance between outright growth and enhancing living standards of its citizens. Examples are the tightening of food imports through more stringent quality controls, given recent food scandals; ensuring balance between property and community development.
Placing emphasis on food security, diversification of supplies of raw materials, building stockpiles of commodities on its shores will sooner or later lead to a more balanced growth. As for metal prices, it seems certain that recovery of prices to levels of a few years ago are unlikely to occur again but expect a slight improvement over the next 12 – 18 months.