(IHS Markit) Markit material price index was up 2.3% last week, taking total commodity price gains 50% from last year due to rising energy costs.
Coal, natural gas, and oil prices have risen fast in recent weeks, with the sub-index up 8.6 %.
The UK spot for liquefied natural gas landed prices rose to a historic high of $30/MMBtu, while the Japanese liquefied natural gas spot landed price attained a record $32/MMBtu.
Iron ore prices fell from a high of $220 per ton in July to a low of $120 per ton. High prices are projected in the short term amid tough energy market conditions.
September data shows a slowing global economy and high inflation amid disruptions in China’s manufacturing sector caused by electricity cuts.
CL1! is down -1.24%, NG1! Is down -2.59%
