Price weakness stemmed from excess capital dole-out – Glencore

The commodity price weakness from 2012 to 2015 was the result of an over-allocation of capital from 2006 to 2012, Glencore CEO Ivan Glasenberg told an American audience on Monday. In an address to the BMO Metals and Mining Conference, in Miami, Glasenberg said that capital over-allocation in the six years to 2012 had concealed the reality of underlying demand actually remaining robust in most commodities.