Commodity prices plunge in August—Pink Sheet

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Energy commodity prices plunged 6% in August, led by Australian coal prices (-9%), the World Bank Pink Sheet reported. Crude oil and U.S. natural gas prices each declined 6%.

Non-energy prices dropped almost 4%, led by beverages and metals.

Agricultural prices declined nearly 3%, with losses in beverages (-6.4%), food (-2.3%), and raw materials (-2.9%).

Fertilizer prices declined nearly 2%, led by phosphate rock (-20%).

Metals prices plunged 6%, led by iron ore (-22%); tin and zinc fell around 7%.

Precious metals prices gained 6.5%, led by a 9% increase in silver.

The Pink Sheet is a monthly report that monitors commodity price movements.

 

 

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Nominal prices, percent changes, August over July

Authors

John Baffes

Senior Agriculture Economist, Development Economics Prospects Group

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