Commodity prices increase from June to July

摘要

As measured by IHS Markit's Material Price Index (MPI), commodity prices advanced 5.5% between mid-June and mid-July. From the beginning of the current rally in late April, prices have risen for 11 straight weeks, recording a cumulative gain of 30.4%. Moreover, the rise in prices has been consistently broad-based with, on average, 70% of the MPI's components increasing each week. The MPI is still down 6.1% in the year to date, but given the optimism in markets, it is conceivable that prices will erase their first quarter plunge before the end of September, according to IHS Markit.