We’re about to enter the final quarter of 2018, so it’s opportune time to see how major commodities have fared this year.
Courtesy of researchers at Citibank, we have the answer in the chart below.
As opposed to 2017 when almost all commodities strengthened, helped by the fabled “global synchronised economic upwsing” as well as broad-based US dollar weakness, 2018 has clearly not been kind to all commodities so far.
While some have carried on the form from 2017, others, such as base, bulks and softs (with the exception of Cocoa), have largely weakened, partially in response to trade tensions between the United States and its major trading partners, renewed volatility in emerging markets — a big consumer of commodities globally — as well as a rebound in the US dollar.
As for what lies ahead for prices, here’s Citi’s forecasts looking out to the end of 2020.
Business Insider Emails & Alerts
Site highlights each day to your inbox.