Global economy, led by China, shrugs off soaring commodity prices

The prices of commodities such as oil, copper, aluminium, platinum and sugar are smashing records — and will head higher owing to fierce demand from economic powerhouses India and China, analysts say.

With sizzling rates of growth in the two emerging giants, home to one third of the world’s population, supplies of raw materials will likely be stretched even further.

Low global inventories, limited production, supply disruptions and fierce demand prompted frenzied speculative buying across much of the metals complex last week.

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