Elman: No one can predict turning point for commodities

Singapore

WITH the direction of the commodities market difficult to determine, it's time to shelve grand plans and focus on survival, says Noble Group chairman Richard Elman.

In comments in Noble's annual report published on Tuesday, Mr Elman said: "People keep asking me where I think the market will go for the next 3-5 years, and my only answer is that I can't say. We all know commodities are cyclical, but predicting when that turning point comes is only possible with hindsight, especially with such excessive moves."