This week we will be taking a look across the board at how some of the major commodities have performed over the previous six months.
Gold is beginning to bounce back to its near-record highs, averaging $1,818 USD/oz in 2022, on the back of concern surrounding increased inflation in the US market, which is expected to continue as investors seek safe havens over increased fears of the potential Russia – Ukraine conflict.
Iron Ore continues to move towards its previous six month high, as the industry continues to focus on recovery following the impacts of COVID-19. This is on the back of recent figures indicating a 5% increase in global iron ore production, despite warnings from regulators in China against what they claim to be ‘unusual price moves’.
Nickel is remaining steady after recently reaching an 11 year high in January as a result of supply shortages as products such as batteries for electric vehicles, and for the production of stainless steel. The forecast for Nickel for the next 12 months looks positive as these shortages continue to remain an issue for the foreseeable future.