Global commodity markets ended 2020 on a strong note, with recovering demand and widespread stimulus packages buoying prices after a roller coaster ride caused by the global coronavirus pandemic.
Rollouts of vaccines to combat the virus and trillions of dollars’ in fiscal support are expected to boost investment and spending in 2021, spurring demand for raw materials from oil to copper.
“It’s been a tumultuous year for the commodity market, as the oil meltdown in March changed how we measure and gauge risk in the entire commodity sphere,” Stephen Innes, chief global market strategist at brokerage Axi, told Reuters.
No comments:
Post a Comment