Cocoa Tops Global Commodities Rally for 2nd Year, Steel Ingredients Struggle on China Demand
Cocoa and coffee are poised to close 2024 as the biggest gainers among commodities for a second year on a global supply deficit, while steel-making coal will end as the worst performer, hit by slow growth in China.
Looking ahead, global trade tensions are likely to dominate the commodities landscape in 2025 as Donald Trump returns to the White House threatening hefty tariffs, analysts said.
A strong dollar and gold’s appeal as a safe haven for investors are likely to support precious metals prices, while ample supply could depress oil for a third year, they added.
Source: reuters
Via: norvanreports