5 key indicators in the global commodity market.

As the new week begins, global markets are witnessing notable fluctuations. Below are five prominent charts in the global commodity market.

Top US oil executives are planning to meet with President Donald Trump to discuss energy policy, in which coal is now considered a key element. Cobalt prices, a key metal in battery production, are soaring following a surprise export ban from the world's largest producer. Countries around the world are also tightening controls on the steel industry...

Here are five key indicators to watch in the global commodities market as the new week begins:

Oil

Top US oil executives will meet with President Donald Trump this week to discuss energy production. The meeting comes amid falling crude oil prices, increasing oil production, and tariff concerns. In its latest report, the International Energy Agency (IEA) revised down its forecast for global oil consumption growth this year, while also predicting a potential supply surplus.

Coal

Coal prices in Asia are currently cheaper than they were in 2021 due to global oversupply. However, this situation is expected to change in the near future. The popularity of coal is increasing, and the administration of US President Donald Trump is working to halt shutdowns to meet rising electricity demand. The IEA forecast in December that coal use will increase at least until 2027. Therefore, coal prices are also expected to rise.

The IEA's December forecast indicates that coal use will increase at least until 2027. (Illustrative image)

Cobalt

Cobalt prices are surging following a surprise export ban from the world's largest producer, the Democratic Republic of Congo. Cobalt hydroxide, a major export product from Congo, has seen a sharp price increase after the country imposed a four-month export suspension in February to curb oversupply. Last week, cobalt prices reached their highest level since July 2023, according to data from price and market data provider Fastmarkets. Congo accounts for approximately three-quarters of global cobalt production.

Steel

Countries around the world are tightening controls on steel imports, a vital industry considered a symbol of industrial strength. South Korea, Vietnam, Brazil, and the European Union are also seeking to protect domestic steel production and reduce reliance on supplies from China, the dominant steel producer, whose exports nearly reached record levels last year.

Egg

Egg prices in the US have been soaring for some time now, and this trend is spreading to Europe and other regions as avian flu outbreaks globally. Wholesale egg prices in Europe reached their highest level in over a decade last week. This occurred as US egg prices began to cool slightly, thanks to imports. With Easter approaching, demand for eggs is expected to remain high.

The oil, coal, cobalt, steel, and egg industries are experiencing price volatility due to factors such as changes in production, policies, the pandemic, and adjustments by international organizations.

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