Commodity Prices Revised Down as Global Growth Weakens and Supplies Remain Ample

Energy and metal prices seen falling in 2019, 2020 on slowing demandCMO-cover-October-2019-780x439

WASHINGTON, October 29, 2019 – Energy and metal commodity prices are expected to continue to fall in 2020 following sharp declines in 2019 on a weaker outlook for global growth and consequent softer demand, the World Bank said in its October Commodity Markets Outlook.

“Slowing demand for commodities presents a challenge for exporters and an opportunity for importers,” said Ceyla Pazarbasioglu, World Bank Group Vice President for Equitable Growth, Finance & Institutions. “As both of them switch from using one commodity to another due to price fluctuation and technological advance, it will be important that these resources be produced and consumed in an environmentally sustainable way.”

Download the October Commodity Markets Outlook

Continue reading