Commodity prices continued to fall for the eighth consecutive week, according to the IHS Markit Materials price index (MPI). The MPI dropped 1.2% overall, with eight of its 10 factors in decline. IHS Markit attributes this largely to concern caused by the U.S.-China trade talks. Energy prices decreased 1.2%, with a 3.3% decline in both natural gas prices and coal prices. IHS Markit reports that this drop puts coal prices at their lowest price point in three years. Chemical prices fell 0.5%, while some positivity among trade talks allowed for a small 0.6% increase in oil prices.
Material Prices Drop Because of Trade Talk Uncertainty
November 27, 2019