The mining companies LKAB and Boliden have been on the rise in recent years, and plans are now being made to restart the mine in Pajala. Continued positive development raises many questions about the importance of the commodity market for the economic development, how the future for the oil prices looks like and whether non-renewable raw materials contribute to economic development. The seminar in Vetenskapens hus on Thursday will deal with these questions. Researchers from Luleå University of Technology together with international researchers will present the latest reseach on the topic.
– The mineral prices peaked in 2012 due to huge growth in China and other developing countries. Then the prices fell, but iron ore prices have been stronger in recent years. There is more balance between supply and demand now, says Linda Wårell, Assistant Professor at Luleå University of Technology, who will talk about how this affect the mining industry.
According to Linda Wårell, there will always be fluctuations in commodity prices due to the fact that the market is international. Together with professor Marian Radetzki, she has released a new edition of the book "A Handbook of Primary Commodities in the Global Economy" focusing on the changes that have taken place in the commodity markets since the 90s.
– The mining industry has had a major impact on the entire commodity market. The 2010's has been a dramatic period for most commodities, because of an increase in production, coupled with a weaker demand development, says Linda Wårell.