As fears of a potential recession grip consumers, spurred by the Trump administration’s announcement of tariffs on Chinese imports, IHS Markit is reporting a 0.9% overall decline in commodity prices in the Materials Price Index released on Aug. 21. Prices rebounded somewhat following the postponement of the tariffs’ implementation.
Some commodities have bounced back, while others continue to fall. Natural-gas prices increased 7.4%, while coal and oil prices declined 5% and 1.6%, respectively. Non-ferrous metals, which include materials such as aluminum and copper, rose 0.4% following the trade delay announcement, while fibers increased 2.7%. However, ferrous metals, consisting of a variety of iron and steel products, experienced a decrease of 2.6%.