ABS Commodity Price Analysis January 2024 for the Heavy Industry

Commodity Price Analysis January 2024 for the Heavy Industry

We’re sharing essential updates on commodities pricing and trends that affect our business. This report provides vital insights to help you understand and manage market-driven price fluctuations, facilitating smarter decision-making.

📊 Commodity Prices Update:
𝗠𝗲𝘁𝗮𝗹 𝗣𝗿𝗶𝗰𝗲𝘀: We have observed varied trends in metal prices. Steel, Iron Ore, Aluminum, and Copper experienced initial price drops at the start of the year. However, Steel is showing signs of recovery.
𝗖𝗿𝘂𝗱𝗲 𝗢𝗶𝗹 𝗣𝗿𝗶𝗰𝗲𝘀: After a notable drop in Q4 ’23, Crude Oil prices are now on a recovery path.
𝗦𝘂𝗴𝗮𝗿 𝗣𝗿𝗶𝗰𝗲𝘀: Significant price drop noted in mid-December 2023.
Palm Oil Prices: Fortunately, prices began to recover in January 2024.

🔁 Supply Chain Update:
𝗖𝗼𝗻𝘁𝗮𝗶𝗻𝗲𝗿 𝗖𝗼𝘀𝘁𝘀: The composite index for container shipping has risen by 15% this week to $3,072 per 40ft container. This marks a 44% increase compared to the same period last year.
𝗚𝗹𝗼𝗯𝗮𝗹 𝗦𝘂𝗽𝗽𝗹𝘆 𝗖𝗵𝗮𝗶𝗻 𝗣𝗿𝗲𝘀𝘀𝘂𝗿𝗲 𝗜𝗻𝗱𝗲𝘅: In December 2023, the index saw a decrease to -0.15, down from a revised 0.13 in November. This negative reading suggests lower-than-normal supply chain pressures, potentially easing inflation concerns.


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