Commodity Prices Mixed Amid Inflation and Geopolitical Concerns

Commodity Prices Mixed Amid Inflation and Geopolitical Concerns

Business

Commodity markets saw mixed movements last week as inflation concerns persisted due to US President Donald Trump’s tariff policies and geopolitical developments, particularly the ongoing efforts for peace between Russia and Ukraine, CE Report quotes Anadolu Agency

Chicago Fed President Austan Goolsbee highlighted progress in reducing inflation from its 40-year high in 2022 but noted that uncertainty surrounding Trump’s tariffs could impact the economy. Chinese Commerce Minister Wang Wentao warned that US tariffs would strain US-China relations.

Trump expressed hopes for a ceasefire between Russia and Ukraine, urging leaders Vladimir Putin and Volodymyr Zelenskyy to negotiate.

Gold Hits New Record Amid Market Uncertainty

Gold surged 1.7% to a record $2,954.89 per ounce, driven by tariff concerns and geopolitical risks. Silver rose 1.1%, palladium 0.5%, while platinum fell 1.1%. Copper dropped 2.1% as Citigroup lowered its price forecast. Meanwhile, aluminum, nickel, zinc, and lead posted gains.

Chinese defense giant Norinco Group signaled plans to revise its bid for Congolese miner Chemaf’s copper and cobalt assets. Additionally, Chile’s Codelco and UK-based Anglo American signed a copper mining partnership in central Chile.

Oil Falls, Natural Gas Soars on Weather Forecasts

Brent crude oil dipped 0.7% to $73.9 per barrel after a weaker-than-expected rise in US crude stocks. US production increased by 300,000 barrels per day, heightening concerns over global oversupply. In contrast, natural gas prices soared 12.6% due to an anticipated Arctic cold wave affecting North America in early March.

Agricultural Markets React to Policy Changes

China released its 2025 rural revitalization plan to boost grain production incentives, while the US Department of Agriculture (USDA) announced the release of $20 million in previously frozen farmer funds.

Brazil maintained its biodiesel blend ratio at 14%, boosting soybean prices by 0.4%. Rice fell 3% due to inadequate Thai government support, sparking farmer protests. Corn climbed 0.4%, while wheat dropped 1.6%. Cotton and coffee declined 1.3% and 4.5%, respectively, while sugar gained 3.1% and cocoa plunged 11.5%.

Tags

Related articles

Greece, France Explore Stronger Business Ties
Greek Development Minister Takis Theodorikakos met Friday with a delegation from the French business network MEDEF, which included representatives from 17 major French companies.
EU Push for Investment to Cut Flight Delays
At the ACI Europe 2025 Annual Conference in Athens, Commissioner for Sustainable Transport and Tourism, Apostolos Tzitzikostas, called on EU Member States to urgently invest in new technologies and workforce recruitment to reduce flight delays and strengthen air transport resilience.
Moldova Eases Business Rules
The Moldovan government is taking steps to simplify business procedures by cutting red tape and reducing administrative burdens.
Bulgaria Urged to Tread Carefully Toward Euro Adoption
The Bulgarian government and National Bank should closely monitor the country's economic activity as it moves toward eurozone membership, according to a new report by the Bulgarian Council for Economic Analyses (CEA).
ESEE Warns of E-Commerce Imbalance
The President of the Hellenic Confederation of Commerce and Entrepreneurship (ESEE), Stavros Kafounis, highlighted growing concerns over unfair competition from Asian e-commerce giants TEMU and SHEIN during a press conference on Wednesday.
Greek-American Business Forum Highlights Growth
On Monday, members of the Hellenic American Chamber of Commerce gathered for a high-level forum focused on strengthening Greek-American business, investment, and trade relations amid shifting transatlantic dynamics.
Greece Reports €4.6B Budget Surplus
Greece recorded a primary budget surplus of €4.6 billion on a cash basis between January and May 2025, according to data from the Bank of Greece.
Romania to Host NATO Ammo Hub
During a visit to Dambovita County on Tuesday, Economy Minister Bogdan Ivan announced that Dragomirești will become home to NATO’s Ammunition Centre of Excellence for all of Europe.