The Commodity Research Bureau index has retreated to near 185, hitting a 14-year low since November 2001. The CRB index has declined 18 percent since early July this year, and dropped 20 percent accumulatively since the beginning of this year. It is expected this year will mark the biggest annual decline since 2008.
The CRB index slumped more than 25 percent in the second half year of 2014. According to commodity data provider 100ppi.com, some 75 percent of the 58 commodity raw materials have showed a double-digit price decline compared to a year earlier. Only five commodities have a higher price than last year.
On the Shanghai Futures Exchange, the copper price has fallen to around 35,000 yuan/tonne, nearly 50 percent lower than the recovery peak in 2011 after the financial crisis. The steel price has dropped to 1,700 yuan/tonne, hitting the lowest level since the product came to the futures market.
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