We share a new update on current prices, trends and projections for the commodities that most impact the heavy industry business. We hope you find it helpful!
- Steel, Iron Ore, Aluminum, and Copper prices decreased in July, after recovering in June.
- Crude Oil prices peaked in June and decreasing in July.
- Sugar prices fall and recover in July.
- Palmoil prices plummet after reaching a historical high.
Supply Chain situation:
- Disruptions to supply chain transportation and freight are far from over.
- The composite index decreased by 0.7% this week, and has dropped by 21% when compared with the same week last year.
- U.S. ports could begin experiencing disruptions soon because of Chinese port delays.
- Global supply chains disruptions will most likely persist at least until the second half of this year.
- Action should be taken to reduce the risk of financial loss in the event of persistent transportation delays and freight cost increases.