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In this edition of the commodities roundup, An Hodgson discusses the global energy market, metals and soft commodities.
Energy prices rose for the first time in five months in October, driven by high crude oil prices. On the other hand, natural gas and coal continue to decline in price in October. Oil prices will likely continue to rise, as the possibility of an increase Western military presence in the Middle East is almost assured in the wake of the recent terrorist attacks in Paris.
The price of metals decreased in October, reversing gains recorded in September. Iron ore prices fell the most, due to an increase in production from major iron ore producers and weak demand from Chinese steel mills. Aluminium prices also dropped, hitting a six-year low.
Food prices decreased in October, recording a now three-month decline because of short price decreases of meat and seafood. Beverage prices, however, rose as high prices of coffee and tea more than offset a decline in cocoa.
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