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Commodities

Energy prices gain 7 percent in May–Pink Sheet

John Baffes's picture
Energy commodity prices gained more than 7 percent in May, with advances in U.S. natural gas (+27 percent), coal (+12 percent) and oil (+7 percent), the World Bank’s Pink Sheet reported.

Non-energy prices changed little as a 1.4 percent gain in beverages was balanced by a 2 percent loss in raw materials and a 1.1 percent decline in Fertilizers.

Metals prices gained 0.4 percent, led by nickel (+3 percent) and aluminum (+2 percent).

Precious metals prices lost 2.1 percent, led by a similar decline in gold.

The Pink Sheet is a monthly report that monitors commodity price movements.
 
Commodity prices advanced in May

Source: World Bank.

Why commodity prices are rising, in nine charts

John Baffes's picture
Commodity prices strengthened in early 2018, supported by supply and demand factors, including accelerated global growth, which has lifted demand for most industrial commodities, and supply constraints affecting others.

Chart 1: Commodity prices are forecast to rise across the board

The energy price index is anticipated to rise 20 percent in 2018, largely on strengthening of oil prices. The increase is a 16-percentage point upward revision from October 2017. Metal prices are projected to increase 9 percent in 2018 due to a further pickup in demand. Agricultural prices are forecast to gain more than 2 percent.
 
2018 commodity price rise forecasts (percent change from 2017 to 2018)
Source: World Bank

Energy prices advanced, fertilizer prices declined in April -- Pink Sheet

John Baffes's picture
Energy commodity prices gained 8.2 percent in April, led by a 40 percent increase in U.S. natural gas prices, the World Bank’s Pink Sheet reported.

Non-energy prices advanced 1.8 percent while agricultural prices increased 1.7 percent on higher prices for wheat (up 11 percent), rice and cocoa (4 percent rises each), soybean meal and tea (4 percent gains each). Fertilizer prices decreased 0.7 percent, led by a 5 percent drop in urea.

Metals prices gained 2.3 percent, led by gains in aluminum (up 9 percent) and nickel (4 percent rise).

March energy prices advanced, metals prices declined–Pink Sheet

John Baffes's picture
Energy commodity prices gained 1 percent in March—led by a 1 percent increase in crude oil prices, the World Bank’s Pink Sheet reported.

Non-energy prices fell almost 1 percent due to a drop in metal prices. Agricultural prices increased 1 percent, largely on higher cocoa prices (+18 percent), maize and soybean meal (+5 percent each), as well as cotton and soybeans (+4 percent each). Fertilizer prices rose more than 1 percent, led by TSP (triple superphosphate) (+3 percent) and DAP (diammonium phosphate) (+2 percent).

Metals prices dropped 5 percent, led by iron ore prices (-9 percent), zinc and lead (-7 percent each), and aluminum (-5 percent).

Precious metals prices were marginally down due to a 1 percent decline in silver prices.

The Pink Sheet is a monthly report that monitors commodity price movements.
 
Energy prices advanced, metal prices declined in March

Source: World Bank.
 

Shifting commodity markets in a globalized world

Rabah Arezki's picture
In Shifting Commodity Markets in a Globalized World, we track developments in energy, metals, and food markets since the early 2000s, when a “commodities super cycle” began. The super cycle first was marked by a decade-long increase in commodity prices—as rapid urbanization and a strong surge in infra­structure spending, especially in China, boosted demand for nearly all commodities. Then prices began to decline, in part due to short-term factors such as the global financial crisis. But longer-term issues were important to both the run up and subsequent fall in prices. In the book, which is published by the International Monetary Fund, we focus on those long-term issues, examining the relative importance of technology, geography, demography, and policy in each commodity mar­ket and how their interplay sends price signals to producers and consumers, who in turn adjust their behavior:

February energy prices declined, non-energy prices advanced–Pink Sheet

John Baffes's picture
Energy commodity prices fell 5 percent in February—ending seven months of gains—led by a 4 percent drop in crude oil prices, the World Bank’s Pink Sheet reported.

Non-energy prices advanced by over 1 percent. Agricultural prices increased almost 2 percent, largely on higher prices for soybean meal (+12 percent), cocoa (+9 percent), maize and sorghum (+5 percent each). Fertilizer prices rose 2 percent, led by phosphate rock (+6 percent), DAP, and Urea (+2 percent each).

Most commodity prices surged in January, led by energy–Pink Sheet

John Baffes's picture
Energy commodity prices surged 9 percent in January, the seventh monthly gain in a row, led by an almost 30 percent increase in U.S. natural gas prices, the World Bank’s Pink Sheet reported.

Non-energy prices made solid advances as well, with metals and minerals prices gaining more than 5 percent, also the seventh consecutive monthly increase, and a five-year high. Nickel and zinc, up 12 and 8 percent respectively, led the rise.

Precious metals climbed nearly 6 percent, with similar gains in gold and silver.

Agricultural prices, which had been stable for nearly 2 years, increased more than 2 percent, led by advances in rice (+9 percent) and cotton (+5 percent). Fertilizer prices rose over 1 percent, led by DAP (+3 percent) and Urea (+2 percent).

The Pink Sheet is a monthly report that monitors commodity price movements.
 
All commodity price indexes gained in January, led by energy
Source: World Bank.

Energy and raw materials prices gained in December, beverages and fertilizer prices fell – Pink Sheet

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Energy commodity prices gained 2 percent in December—the sixth consecutive monthly gain—led by a 6 percent increase in coal prices, the World Bank’s Pink Sheet reported.

Agriculture prices declined marginally, as a 5 percent decline in beverages, led by cocoa (down 10 percent) outweighed a 2 percent increase in raw materials prices, led by cotton (up 6 percent) and natural rubber (up 5 percent). Fertilizer prices declined 5 percent, led by a 11 percent drop in urea.

Metals and mineral prices gained less than 1 percent. A large gain in iron ore (up 12 percent) was offset by declines in zinc and nickel. Precious metals prices declined 2 percent, led by a 1 percent decline in gold.

The pink sheet is a monthly report that monitors commodity price movements.
 
Energy and raw material price indexes increased in December while beverage and fertilizer prices declined sharply.

 

Energy prices surged in November, beverages and fertilizer prices fell–Pink Sheet

John Baffes's picture
Also available in: Español | Français

Energy commodity prices surged 8 percent in November—the fifth consecutive monthly gain—led by a 9 percent increase in oil prices, the World Bank’s Pink Sheet reported.

Agriculture prices made marginal gains as a 1 percent decline in beverages was balanced by a 1 percent increase in food prices, notably natural rubber (down 12 percent) and cotton (off 2 percent). Fertilizer prices declined 3 percent, led by a 6 percent drop in Urea.

Metals and mineral prices were unchanged. Gains in nickel and iron ore were balanced by declines in lead and aluminum. Precious metals prices rose marginally.

The pink sheet is a monthly report that monitors commodity price movements.

Where commodity prices are going, explained in nine charts

John Baffes's picture
The most recent World Bank Commodity Markets Outlook forecasts commodities prices to level off next year after big gains for industrial commodities—energy and metals—in 2017. Commodity prices appear to be stabilizing after a boom that peaked in 2011, albeit at a higher average level than pre-boom.
 
Chart 1

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