A global commodities rout is fueling fears of a bleak economic future
2023-07-06 10:32:19 source：CNBC
July 5, 2023
Prices of commodities like crude oil and iron ore have been sliding this year, underlining a continuing economic rout across the globe and possible recession risks, market watchers told CNBC.
Global commodities have seen a more than 25% slump over the last 12 months as reflected by the S&P GSCI Commodities index — a benchmark measuring the wider performance of various commodity markets.
Out of the different baskets of commodities, industrial metals have slid 3.79% during that period (up to June 30), while energy commodities like oil and gas have slipped 23%. Conversely, agricultural commodities such as grain, wheat, and sugar have gained roughly 11%.
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