With President Donald Trump imposing tariffs on aluminum and steel imports last month, his taking a tougher stand on trade overall, and the US general economy growing at a healthy clip, several key commodity prices were considerably stronger on average through the end of March, compared with on January 19, 2017, the day before his inauguration. Eight of the 11 commodity benchmark, running-average prices being tracked by S&P Global Platts since Trump took the oath of office were up, led by aluminum (the US premium for Midwest delivery, +12.6%) Chicago gasoline (+12.5%), and jet fuel (+10%). Dated Brent crude’s running average during the Trump era was $56.82/b for the January 20, 2017, through March 31, 2018, period, compared with $53.31/b on January 19 a year ago, an increase of 6.6%. New York Harbor fuel oil’s running average was $49.51/b for the same period, up 5.3% from the January 19, 2017, mark of $47.03. Gold, up 6.8% to a running average of $1,298.73/oz since January 19, 2017, is likely benefiting from investors who see it as a safe haven compared with recent stock market volatility. But the running average prices of natural gas (-7.1%), thermal coal (-5.4%) and global iron ore… continue reading
Continue reading Aluminum, gasoline, jet fuel prices post double-digit gains in Trump era: Of Presidents and Prices. This article appeared first on CTRM Center.
Source: CTRM Center