Commodity Markets Outlook, October 2020
Almost all commodity prices recovered in the third quarter of 2020 following steep declines earlier in the year. Crude oil prices have doubled since April in response to supply cuts but remain much lower than their pre-pandemic levels. Metal prices recovered rapidly due to supply disruptions and a f...
Guardado en:
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| Formato: | En linea |
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World Bank, Washington, DC
2020
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| Acceso en línea: | https://documents.worldbank.org/en/publication/documents-reports/documentdetail/815111603466310201/persistence-of-commodity-shocks https://hdl.handle.net/10986/34621 https://doi.org/10.1596/34621 |
| _version_ | 1866367007167873024 |
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| author | World Bank Group |
| author_facet | World Bank Group |
| author_sort | World Bank Group |
| collection | Publicaciones institucionales emblemáticas |
| description | Almost all commodity prices recovered in the third quarter of 2020 following steep declines earlier in the year. Crude oil prices have doubled since April in response to supply cuts but remain much lower than their pre-pandemic levels. Metal prices recovered rapidly due to supply disruptions and a faster-than-expected pickup in China’s industrial activity. Some food prices have also risen amid production shortfalls in edible oils. Oil prices are expected to average $44/bbl in 2021, up from an estimated $41/bbl in 2020. Metal and agricultural prices are projected to see modest gains of 2 percent and 1 percent, respectively, in 2021. A Special Focus looks at the nature of shocks on 27 commodity prices during 1970-2019. It finds that highly persistent (“permanent”) and short-lived (“transitory”) shocks have contributed almost equally to commodity price variation, although with wide heterogeneity across commodities. Permanent shocks account for most of agricultural commodity price variability while transitory shocks are more relevant in industrial commodity prices. |
| format | Online Serial |
| id | wb-10986-34621 |
| institution | Banco Mundial |
| publishDate | 2020 |
| publisher | World Bank, Washington, DC |
| record_format | dspace |
| spelling | wb-10986-346212025-04-15T10:58:56Z Commodity Markets Outlook, October 2020 World Bank Group COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES CORONAVIRUS COVID-19 PANDEMIC IMPACT OPEC ECONOMIC CRISIS Almost all commodity prices recovered in the third quarter of 2020 following steep declines earlier in the year. Crude oil prices have doubled since April in response to supply cuts but remain much lower than their pre-pandemic levels. Metal prices recovered rapidly due to supply disruptions and a faster-than-expected pickup in China’s industrial activity. Some food prices have also risen amid production shortfalls in edible oils. Oil prices are expected to average $44/bbl in 2021, up from an estimated $41/bbl in 2020. Metal and agricultural prices are projected to see modest gains of 2 percent and 1 percent, respectively, in 2021. A Special Focus looks at the nature of shocks on 27 commodity prices during 1970-2019. It finds that highly persistent (“permanent”) and short-lived (“transitory”) shocks have contributed almost equally to commodity price variation, although with wide heterogeneity across commodities. Permanent shocks account for most of agricultural commodity price variability while transitory shocks are more relevant in industrial commodity prices. 2020-10-14T15:31:43Z 2020-10-14T15:31:43Z 2020-10-22 Serial Sériel Serial https://documents.worldbank.org/en/publication/documents-reports/documentdetail/815111603466310201/persistence-of-commodity-shocks https://hdl.handle.net/10986/34621 10.1596/34621 https://doi.org/10.1596/34621 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank application/pdf application/octet-stream application/vnd.openxmlformats-officedocument.spreadsheetml.sheet application/vnd.openxmlformats-officedocument.spreadsheetml.sheet World Bank, Washington, DC |
| spellingShingle | COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES CORONAVIRUS COVID-19 PANDEMIC IMPACT OPEC ECONOMIC CRISIS World Bank Group Commodity Markets Outlook, October 2020 |
| title | Commodity Markets Outlook, October 2020 |
| title_full | Commodity Markets Outlook, October 2020 |
| title_fullStr | Commodity Markets Outlook, October 2020 |
| title_full_unstemmed | Commodity Markets Outlook, October 2020 |
| title_short | Commodity Markets Outlook, October 2020 |
| title_sort | commodity markets outlook october 2020 |
| topic | COMMODITY PRICES ECONOMIC OUTLOOK ENERGY AGRICULTURE METALS PRECIOUS METALS MINERALS PRICE SERIES PRICE FORECASTS PRICE INDICES OIL PRICES FOOD PRICES CORONAVIRUS COVID-19 PANDEMIC IMPACT OPEC ECONOMIC CRISIS |
| url | https://documents.worldbank.org/en/publication/documents-reports/documentdetail/815111603466310201/persistence-of-commodity-shocks https://hdl.handle.net/10986/34621 https://doi.org/10.1596/34621 |
| work_keys_str_mv | AT worldbankgroup commoditymarketsoutlookoctober2020 |