" For traders and mining executives, falling stocks and TC/RCs jar with the narrative of oversupply peddled by some of the big investment banks and metals consultancies.
The decline is also due to the oversupply of shopping malls encouraged by regional governments.
China's job market was generally steady in the first half of this year, but labor oversupply and structural shortages continued to trouble the economy.
"China was a key driver of diesel demand growth over the past several decades but is now a net diesel exporter, contributing to the growing oversupply in global diesel markets," the US Energy Information Administration said in a recent report.
On the other hand, during 2009 and 2013, the size of the fur farming industry increased by 30-40 percent every year, according to the China Leather Industry Association, which resulted in chronic oversupply.
Alan Oster, NAB's chief economist, said the reduced foreign demand probably reflected oversupply, particularly in the Melbourne market where up to 30 per cent of city centre apartments were unoccupied.
But in July the oversupply started weighing on the market again, and another leg down in prices began.
The oil market "could drown in oversupply" as a rise in Iranian output offsets production cuts elsewhere, threatening a further price collapse, the world's leading energy forecaster has said.
Some experts also attribute the decreasing job competitiveness of overseas returnees and PhDs to a growing oversupply of their number.
Thirty-five per cent of mall managers reported an oversupply of malls in their area, with those in lower-tier cities markedly less positive than their counterparts in first and second-tier cities.
"Policy makers will have to come to terms with the fact that if the plan is to stop using hydrocarbons before we run out of them, then they will go into oversupply and their price will fall in the long term," said Mr Temperton.
