5 important signs in global commodity markets

As the new week begins, global markets have seen some notable moves. Here are five charts that stand out in global commodity markets.

Top US oil executives are planning to meet with President Donald Trump to discuss energy policy, with coal now seen as a key factor. The price of cobalt, a key metal in batteries, is soaring after a surprise export ban from the world's largest producer. Countries around the world are also tightening controls on the steel industry...

Here are five notable signs in global commodity markets as the new week begins:

Oil

Top US oil executives will meet with President Donald Trump this week to discuss energy production. The meeting comes amid falling crude prices, rising oil production and tariff concerns. In its latest report, the International Energy Agency (IEA) has revised down its forecast for global oil consumption growth this year, predicting a possible supply surplus.

Coal

Coal prices in Asia are now cheaper than they were in 2021 due to global oversupply. However, that is set to change in the near term. Coal’s popularity is growing, and the Trump administration is trying to stop these shutdowns to meet rising electricity demand. The IEA forecast in December that coal use will increase until at least 2027, so coal prices are expected to rise as well.

The IEA's December forecast showed that coal use will increase until at least 2027. Illustration photo

Cobalt

Cobalt prices are surging after a surprise export ban from the world's largest producer, the Democratic Republic of Congo. Cobalt hydroxide, which is mainly exported from Congo, surged after the country imposed a four-month export ban in February to reduce oversupply. Last week, cobalt prices hit their highest since July 2023, according to data from Fastmarkets, a price and market data provider. Congo accounts for about three-quarters of global cobalt production.

Steel

Countries around the world are tightening controls on imports of steel, a vital manufacturing sector seen as a symbol of industrial might. South Korea, Vietnam, Brazil and the European Union are also seeking to protect domestic steel production and reduce supplies from China, the dominant steel-producing nation, whose exports hit a near-record level last year.

Egg

Egg prices have skyrocketed in the United States before, and now the situation is spreading to Europe and other regions as bird flu spreads globally. Wholesale egg prices in Europe hit their highest level in more than a decade last week. This comes as U.S. egg prices have started to cool a bit, thanks to imports. With Easter just around the corner, demand for eggs is expected to remain strong.

The oil, coal, cobalt, steel and egg industries are experiencing price volatility due to factors such as production changes, policies, epidemics and adjustments by international organizations.

Source: https://congthuong.vn/5-dau-hieu-quan-trong-tren-thi-truong-hang-hoa-toan-cau-378695.html