Commodity bulls point to the massive build out in the developing countries to buttress their argument that the long-term outlook for metals is bullish—and the party has only just begun.
The term "secular" means a once in a lifetime occurence, an event outside the usual boom and bust of the commodity cycle.
The Atlantic published a chart showing GDP per nation relative to population since year one. Note the imbalance between Western nations that have a much larger GDP relative to a smaller populace.
Europe and North America enjoyed the fruits of the industrial revolution starting nearly two centuries ago, which brought the countries more wealth and a middle class. The developing countries finally get it and are now trying to catch up.
This the "secular" part of the supercycle and why the bulls would argue that this time is really different.