Bill Evans, chief economist at Westpac Banking, pointed out that following China's unprecedented iron ore reserves for steelmaking this year, iron ore prices will decline next year.

He also pointed out that due to the slowdown in global oil demand, oil prices may also decline. Mr. Evans said that the fall in iron ore prices next year will be higher than he expected, on the grounds that after China's housing construction has seen "risk" soaring more than potential demand has almost doubled, the Chinese investment real estate boom is fading.

Mr. Evans pointed out at the RIU Oil Purification Conference held in Fremantle on the west coast of Australia on September 6th that "it is expected that people will see a sharp decline in iron ore prices. I expect the price of iron ore will begin to decline. I suspect that iron ore currently has a certain level of inventory. Very large stocks, unprecedented large stocks, so iron ore prices are prone to turning point."

Mr. Evans said that although China will “take a sigh of relief” in buying iron ore in the next 12 months, as long as the government has curbed high inflation, China’s purchase of iron ore will resume because China will continue to promote unprecedented industrialization. . Since China has so far failed to successfully contain inflationary pressures, it is necessary to adopt balanced measures to increase housing supply. The Chinese government is deterring housing investment bubbles and inflationary pressures, balancing and curbing the impetus for a slowdown in economic growth.

Mr. Evans pointed out that although the industrial output value of the OECD countries has fallen, in the long run, the price of oil will rise from US$83/barrel to US$100/barrel.

Mr. Evans is more skeptical about the prospect of short-term oil prices. He pointed out that global economic growth will promote the rise in oil prices, a key factor - the possibility that oil production growth will drop below 3.5% next year. We think this is a low point.

Peter Strachan, an inventory resource analyst, points out that due to tight supply, the rise in oil prices will exceed all other commodities. For the same reason, he is also optimistic about the copper market. So far, the amount of copper that has been mined and consumed has reached 550 million tons, and it will consume 550 million tons in the next 20 years. But where do these copper come from?