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Commodity prices rebounded in May—Pink Sheet

June 04, 2020

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Energy prices jumped 32.2% in May, led by a recovery in crude oil, the World Bank's Pink Sheet reported. Non-energy prices jumped nearly 1%, reflecting gains in metals and minerals. Most other sub-groups moved lower.

Agricultural prices changed little in May as declines in fertilizers were offset by increases in beverages. Fertilizer prices plunged 8.5%, led by urea (-14%) and potassium (-11.8%).

Metals prices gained nearly 4% in May, following increases in most metals—iron ore (10.5%), zinc (3.8%), copper (3.6%), nickel (3.2%), and tin (3%). Precious metals prices gained almost 3%, led by a 2% increase in gold.

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

Commodity Markets Outlook

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Authors

John Baffes

Senior Agriculture Economist, Development Economics Prospects Group

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Maria Hazel Macadangdang

Research Analyst, Prospects Group, World Bank

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