In June 2023:
Brent oil price increased by 3.1% m/m. This continued the overall stable trend observed since May. There was a moderate rise in prices in mid-June as Asian refiners boosted their purchases.
Natural gas price was up 43.1% m/m due to extended production disruptions in Norway offsetting weak demand.
Ammonium nitrate price was down 13.6% m/m. The prices have been declining since end-2021, primarily due to the decrease in natural gas prices.
Wheat price was down 8.3% m/m. While the recent unrest in Russia, the top exporter, had limited impact on Black Sea futures prices, investors were still evaluating the risks associated with future supply.
Copper price was up 2.7% m/m. Thus far in 2023, the price of copper has demonstrated relative stability.
Ferrosilicon prices – Chinese and European – were down by 6.7% m/m and 4.3% m/m, respectively. There has been no notable positive impact on the prices of ferroalloys recently.
Gold price was down 2.2% m/m, starting to decline from mid-month as demand on the bullion in China faltered amid slow economic recovery.
