Hi Peter,

Thanks for the information and it is good to know that. It is hard to know the exact number of the increasing capacity for every industry. My point is that supply play a bigger role in commodity prices collapse. Take iron ore as an example. Chinese iron ore import volume rose 2.2% in 2015 and hit a new record. In other words, Chinese demand continued to rise in 2015, while iron ore prices halved.

But I totally agree with you that if these numbers are overstated and the market realizes it, the price will rebound.

Thanks again and best,
Janet