Since the 1900s we had four notable commodity cycles. Three of them occurred during inflationary periods: 1910s, 1940s, 1970s. The fourth cycle took place in the early 2000s, coinciding with China’s entry into the World Trade Organization and its emergence as the manufacturing hub of the global economy, leading to one of the most extensive
McKinsey & Co. joined the growing chorus warning that metals considered key to the clean-energy transition face shortages in coming years, potentially suppressing the adoption of electric cars, wind turbines and solar panels. These deficits likely will slow global decarbonization efforts by raising supply-chain costs and, consequently, the prices of lower-carbon products, McKinsey said in
Russia said it was withdrawing from an international agreement that allowed Ukraine to resume much of its Black Sea grain exports, raising concerns about a key link in the global food supply chain. Kremlin spokesman Dmitry Peskov said the deal had been terminated but that Russia would rejoin the agreement if its demands were met,
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Investors look set to pile into the copper market on an unprecedented scale in the next few years as usage surges in electric vehicles and renewable energy, according to Citigroup Inc. The key industrial metal is widely known as a proxy for global economic activity, and prices have slumped in recent months on weakening demand
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“Doctor Copper” has long been held in high repute as an economic expert, and this week’s chart looks under the surface of what copper prices themselves are doing to see an interesting additional insight. The comparison in this chart involves the Institute for Supply Management’s index known as PMI, which used to stand for Purchasing
Fund managers have cut commodities allocations to their lowest levels for three years in a shift that illustrates declining confidence in the outlook for Chinese demand for raw materials and fears that the global economy will enter recession. Bank of America’s monthly global fund manager survey showed that a net 3 percent of managers held