Shipping: Commodities’ Pricing Trends During First Half of 2017 a Mixed Bag Says Shipbroker
17th July 2017
The shipping industry is directly linked with the prices of raw materials and commodities like oil, iron ore and coal, since they are the key ingredient to the products’ trading and as such, their transportation. As such, the evolution of pricing trends this year is key to understanding future demand for shipping services. In its latest weekly report, shipbroker Intermodal said that “having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodities acted during this time. It is worth delving further into the S&P’s GSCI course over the past 6 months which exhibited a 10% decrease in the index over the past 6 months. It has been a harsh year for mainly the energy components which are down in the first 2 quarters. Livestock components are fairing very well, Industrial metals are mostly up, precious metals are marginally up and agricultural products are mixed with the glaring exception of sugar which exhibited the largest decrease for the period (~33%)”, said Intermodal.
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