OVERVIEW | Global commodity prices fall for the sixth straight month in December

Global commodity prices contracted 5.3% month on month in December. This came on the heels of November’s 3.6% fall and marked the sharpest drop since July.

The contraction was spearheaded by sliding energy prices due to soft global economic activity, warmer-than-usual weather in the western hemisphere reducing heating demand, and high gas inventory levels. Meanwhile, agricultural prices fell for the third month in succession in December, largely on lower corn and wheat prices. Base metal prices surged on China’s economic reopening and the prospect of more Chinese stimulus measures. Finally, precious metal prices rose thanks to a weaker dollar and lower U.S. Treasury yields.

 

 

 

 

 


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