The difference will become even clearer when commodity prices fall and the economic cycle turns.

一旦物价回落、经济正常循环，这些效果便更为显著。

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So when the fall in commodity prices hit earnings, mining firms responded with swift and deep cuts, closing mines and deferring new projects.

因此当商品价格下滑打压收益时，矿业公司就用快速的大幅减产来应对，即关闭矿山并推迟新项目。

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So when investors get worried by things like what's going on in Europe, commodity prices can fall sharply even though actual demand for commodities may be running higher.

所以当投资者担忧于欧洲债务危机等情况时，就算实际需求有可能是在不断增强，大宗商品的价格仍有可能急剧下挫。

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The difference will become even clearer when commodity prices fall and the economic cycle turns.

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But all too often, purchasers fail to negotiate lower prices when commodity prices fall again.

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However, Heath Jansen of Citigroup points out that the best time for diversified firms to take over their more specialised rivals is when commodity prices fall.

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