Asian demand spurs commodities boom

Steel production

European and US investment banks have been rapidly building up and building out their presence in Asian commodities markets over the last 18 months, especially in physical products.

Goldman Sachs recently confirmed expanding its headcount in Asian commodities by 20% over the past year, with plans still to hire more, while building out its physical presence in Australia and Indonesia.

Morgan Stanley undertook a joint venture with Bank of Tokyo-Mitsubishi UFJ (BTMU) in June last year, which includ