Jakarta, CNBC Indonesia – World commodity prices strengthened throughout the first semester of 2022. The energy sector is the driving force, supported by tight supply. Then followed by the price of food and plant commodities.
Meanwhile, recession fears have drowned industrial metal commodity prices. Meanwhile, the prices of precious metals such as gold and silver were depressed throughout the first half of 2022 due to the tightening of the central bank’s monetary policy.
Coal is the prima donna of rising commodity prices. The price shot up to 143.1% ptp. Followed by oil and gas prices. While tin was the worst hit, its price slumped 31.9% ptp during the first half.
S&P Goldman Sachs commodity index is at 786.46, up 40.14% point-to-point throughout the I-2022 semester.
The year-over-year performance of commodities as an asset class has been “similar to driving” Tilt-a-Whirl,” said Walter Kunisch J, senior commodities strategist at Hilltop Securities.
This is because the movement of world commodities is very volatile. In particular, metal commodity prices were able to record record highs in the first quarter. However, it fell in after the second quarter.
“The global political economy, country-level political policies, China’s zero Covid policy, together with lingering supply chain issues and dynamic supply and demand variables have driven market players wild,” Kusnich told Market Watch, Thursday (30/6/). 2022).
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