The global commodities bear market is likely to experience only a U-shaped recovery as producers consolidate to shed excess capacity amid slower growth in China, Singapore’s DBS Bank said. “We are in the bottom shape of the U where it’s going to take a while to go through this cycle,” Chean Wai Leong, head of commodity derivatives at DBS told the Reuters Commodities Summit. “We need more corrections on the supply side to cut back in both energy and base metals… Demand is going to be a slow story as well,” she said. A supercycle in commodities ended last year as demand slowed in China, the world’s largest buyer of most raw materials, but producers ramped up output in the fight for market share. “A bear market […]