There are, of course, plenty of other fields where we, as central banks, and our governments need to show a similar dedication to international good order in addressing potential imbalances. Elsewhere, of course, the market has continued to digest significant shifts in the trading environment. Earlier this year, prices reached a 15-year high, and are now again close to that level.
On the producer front, the process of consolidation amongst mining companies has continued, though not all of them, as recent events have shown, entirely in harmony. De-hedging has also continued.