Oil increased the most in 3 years
Oil prices fell 1% in the last trading session of the decade, but had the strongest year in 3 years, supported by a prolonged US-China trade war and major oil producing countries cutting supplies.
Closing session on 31/12, Brent crude oil fell 67 US cents, or 1%, to 66 USD / barrel and West Texas WTI crude oil fell 62 cents, or 1%, to 61.06 USD / barrel. For the year as a whole, Brent oil prices rose 23% and WTI oil rose 34% – the strongest year in 3 years, supported by a recent breakthrough in US-China trade negotiations and commitments to cut production. by the Organization of Petroleum Exporting Countries (OPEC) and its allies.
Forecasts do not expect a sharp increase in oil prices next year, Brent crude is expected to hover around $ 63 / barrel, down slightly from current levels, as OPEC production cuts offset demand. weakened demand.
Natural gas saw the strongest drop in 5 years
Prices of natural gas in the US increased, but had the strongest decline since 2014.
Natural gas futures price in February 2020 on New York floor increased by 0.3 US cent, equivalent to 0.1% to 2,189 USD / mmBTU, but decreased by nearly 25% since the highest level of 8 months (2,905 USD / mmBTU). At the beginning of November 2019, on December 27, the price of natural gas reached 2,138 USD / mmBTU, the lowest since August 23, 2019. For the whole month, natural gas prices decreased by about 4% – the second consecutive month of decrease and the whole year 2019 decreased by 25.5% after being unchanged in 2018. This is one of the goods with the strongest decline in the year. 2019.
Gold rose the most since 2010, palladium and platinum increased sharply
Gold prices rose to a 3-month high due to a weak dollar and the strongest year in nearly a decade due to the US-China trade war, which has prompted investors to seek safe haven assets.
Spot gold on the LBMA increased by 0.3% to $ 1,519.41 / ounce, at a time of $ 1,525.2 / ounce, the highest in 3 months. Gold futures in February 2020 on the New York floor increased by 0.3% to $ 1,523.1 / ounce. For the whole month, gold prices increased by 4% – the strongest increase since August 2019. For the whole of 2019, gold prices increased by more than 18% – the strongest year since 2010, due to the prolonged US-China trade war, raising concerns about the global economic slowdown, prompting investors to seek. Safe haven assets have supported the price of gold.
At the same time, palladium prices increased 1.6% to 1,938 USD / ounce. For the whole month, it increased by 5% and increased by more than 53% in 2019. This is one of the fastest growing commodities in 2019.
Platinum price increased 0.5% to 962.5 USD / ounce. For the whole month, it increased by nearly 7% and had the strongest year since 2009.
Industrial metals decreased simultaneously
Copper prices fell as sellers took profit from recent strong gains, as trade tensions eased.
Copper prices on the London floor decreased by 0.7% to $ 6,175 / ton, but for the whole 2019, it increased by 3.4% after falling by nearly 18% in 2018.
Price of nickel on the floor in London decreased 2% to 14,025 USD / ton. For the whole year, nickel prices increased by 31% and reached a 5-year high in September 2019.
The index of 6 main industrial metals on the London floor in 2019 increased by 2.4%, led by nickel and copper. Nickel is one of the metals with the strongest gains in a decade, supported by Indonesia’s export ban on nickel ore from 1/1/2020.
In addition, aluminum prices decreased by 0.9% to 1,810 USD / ton, for the whole year decreased by 2%. The price of lead decreased 0.8% to 1,927 USD / ton, for the whole year, it decreased by 4.9%. Tin prices fell 1% to $ 17,175 / ton, for the whole year down 12% due to increased inventory and weak demand. Zinc prices decreased by 1.5% to $ 2,272 / ton, for the whole year down 7.8%.
Iron ore saw the strongest increase in 3 years, steel increased
Iron ore prices in China ended 2019 up 141% – the strongest increase in 3 years, due to the disruption of supply and strong demand for iron ore in the country.
Iron ore futures price in May 2020 on the Dalian floor increased 0.5% to 648.5 CNY (93.03 USD) / ton, along with futures steel prices and spot iron ore prices increased. Iron ore futures price in January 2020 on the Singapore floor increased by 1.2% to $ 91.25 / ton.
On the Shanghai floor, rebar prices rose 0.7%, HR coil prices rose 0.8% and stainless steel prices up 2%.
At the same time, the spot price of 62% Fe iron ore to China increased 1 USD to 93 USD / ton. For the whole year 2019, spot iron ore prices increased by 28% compared to 2018 and reached a peak of 126.5 USD / ton on July 3, 2019.
It is forecasted that China’s crude steel production in 2019 will reach a record high of 988 million tons, but will decrease to 981 million tons by 2020, amid economic recession.
Coffee was mixed, sugar decreased
Arabica coffee prices fell but had a strong increase year because investors were still concerned about tight global supply, while sugar prices rose slightly in 2019.
Arabica coffee futures in March 2020 on ICE decreased by 2.45 US cents, equivalent to 1.6%, to $ 1,297 / lb. For the whole year, coffee prices increased by 27% after falling for 2 consecutive years 2017 and 2018. Robusta coffee prices delivered in the same period on London floor increased 7 USD, equivalent to 0.5% to 1,382 USD / ton. However, for the whole year, it decreased by 9.4% – the third consecutive year of decline.
The price of raw sugar in March 2020 on ICE decreased 0.11 US cent, equivalent to 0.8% to 13.43 US cent / lb. For the whole year, the price of raw sugar increased by 11.6% – the first year of increase after 2 consecutive years of decline. White sugar futures price in March 2020 on London floor decreased by 2.2 USD, equivalent to 0.6% to 359.2 USD / ton. For the whole year, the price of white sugar increased by 8%.
Soybeans, wheat and corn all increased
Wheat, maize and soybean prices in the US have increased year after the US-China trade agreement “phase 1”, boosting agricultural exports and supporting prices to rise.
On the Chicago floor, soybean futures in March 2020 increased by 3 US cents to 9.55-1 / 2 USD / bushel, the highest in 18 months. For the whole year, soybean prices increased by 6.8%. Wheat prices for the same period rose 2-3 / 4 US cents to 5.58-3 / 4 USD / bushel, lower than the 16-month high (5.64-1 / 2 USD / bushel) in the previous session. there. For the whole 2019, wheat prices increased by 11%. Corn price in March 2020 decreased 1/2 US cent to 3.87-3 / 4 USD / bushel. For the whole year 2019, corn prices increased by 3.4%.
Palm oil increased the most in a decade
Palm oil prices in Malaysia fell back on the last day of 2019, due to profit-taking but had the strongest year in a decade, due to expected decrease in output and consumption in top producing countries. Indonesia and Malaysia increased.
Palm oil futures price in March 2020 on Bursa Malaysia dropped 80 ringgit, equivalent to 2.6%, to 3,046 ringgit (744.93 USD) / ton, after 4 consecutive gaining sessions. However, for the whole year of 2019, the price of palm oil increased by 44%, with the average price in 2019 reaching 2,560 ringgit / ton – the highest since 2009.
The Malaysian Palm Oil Association and the Southern Peninsula Association of Palm Oil Plants respectively forecast that the output of palm oil in December 2019 will decrease by 16% and 27% compared to November 2019, lower than expected. ants. Meanwhile, domestic palm oil consumption in Malaysia and Indonesia is expected to increase as both countries require an increase in the palm oil content of the 2020 bio-oil program.
Malaysia’s palm oil exports in December 2019 fell 4.9% -6.7%, said commodity surveyors Intertek Testing Services and Amspec Malaysia.
Prices of some key commodities in the morning of January 1, 2020
