The story so far for commodities in 2016 has one of extreme volatility. We began the year with a deep washout, some might call it a capitulation as concerns over US tightening and waning Chinese growth sent markets into meltdown.
Since then we’ve seen a spectacular counter rally with oil and iron ore up 50% and 30% apiece while base metals have lagged:
Big miners have soared as a result though remain a long way down from peaks:
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