{"id":45378,"date":"2024-09-09T20:42:45","date_gmt":"2024-09-09T20:42:45","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices"},"modified":"2024-09-09T21:17:39","modified_gmt":"2024-09-09T21:17:39","slug":"commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices","title":{"rendered":"Commodity markets plunge as China\u2019s slowdown, Fed uncertainty affect prices"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Global commodity markets took a sharp dive last week, driven by stagnation in China\u2019s manufacturing and construction sectors, and uncertainty surrounding the US Federal Reserve’s stance on interest rate cuts.<\/p>\n

Economic data from key regions showed sluggish growth, with the eurozone’s gross domestic product climbing just 0.2% in the second half of the year, down from a 0.3% rise in the previous period. This slower growth contributed to a broad drop in precious metals prices. The ounce price of gold fell 0.2%, silver dropped 3.2%, platinum was down 0.6%, and palladium plummeted 5.5%.<\/p>\n

Base metal prices also suffered as weaker economic conditions in the US, Germany, and China reduced demand for industrial metals. The pound price of copper decreased by 3.7%, nickel by 5.1%, lead by 3.9%, zinc by 6.6%, and aluminum by 4.3%.<\/p>\n

US manufacturing activity failed to meet expectations, as the Institute for Supply Management\u2019s Purchasing Managers’ Index climbed to 47.2 in August — still below market predictions. Meanwhile, China\u2019s manufacturing PMI dropped 0.3%, settling at 49.1, and Germany\u2019s PMI slid to 42.4, its lowest point in five months.<\/p>\n

Oil prices fall amid Libyan disruption, gas prices climb<\/b><\/p>\n

Brent crude oil prices tumbled 7.2% last week, partly due to recession fears and disruptions in Libya. The Libyan government declared a \u201cforce majeure\u201d on all oil fields, ports, and institutions on August 26, suspending production and exports amid disagreements over central bank management. Though negotiations by the UN Support Mission in Libya eased concerns about supply shortages, oil prices still faced downward pressure.<\/p>\n

In contrast, natural gas prices surged by 7.1% as US storage levels dwindled.<\/p>\n

Mixed results in agriculture markets<\/b><\/p>\n

Agricultural markets saw mixed outcomes, with cereal grains showing gains while other sectors declined. US wheat stocks fell, pushing prices up by 2.8%. Corn and rice prices also rose, by 1.3% and 1.9%, respectively, while soybeans increased by 0.5%.<\/p>\n

Cocoa prices fell sharply by 6.6%, influenced by rising exports from Nigeria, while cotton prices dropped 0.8% due to concerns over global production. On the other hand, sugar prices dipped 2.5%, and coffee prices fell 3.3% due to an increase in global coffee exports.<\/p>\n

The global commodity market continues to react to shifts in economic activity and geopolitical developments, with analysts closely watching China, the US, and Europe for further clues on future trends.<\/p>\n

For More News And Analysis About Mauritius Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Global commodity markets took a sharp dive last week, driven by stagnation in China\u2019s manufacturing and construction sectors, and uncertainty surrounding the US Federal Reserve’s stance on interest rate cuts. Economic data from key regions showed sluggish growth, with the eurozone’s gross domestic product climbing just 0.2% in the second half of […]<\/p>\n","protected":false},"author":84,"featured_media":45377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[2896,241],"class_list":["post-45378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-commodity-markets","tag-mauritius"],"yoast_head":"\nCommodity markets plunge as China\u2019s slowdown, Fed uncertainty affect prices - Mauritius<\/title>\n<meta name=\"description\" content=\"Global commodity markets took a sharp dive last week, driven by stagnation in China\u2019s manufacturing and construction sec ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commodity markets plunge as China\u2019s slowdown, Fed uncertainty affect prices\" \/>\n<meta property=\"og:description\" content=\"Global commodity markets took a sharp dive last week, driven by stagnation in China\u2019s manufacturing and construction sec ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-09T20:42:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-09T21:17:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/09\/sm_1725900399.566102.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Commodity markets plunge as China\u2019s slowdown, Fed uncertainty affect prices\",\"datePublished\":\"2024-09-09T20:42:45+00:00\",\"dateModified\":\"2024-09-09T21:17:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices\"},\"wordCount\":388,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/09\/sm_1725900399.566102.jpg\",\"keywords\":[\"Commodity markets\",\"Mauritius\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/commodity-markets-plunge-as-chinas-slowdown-fed-uncertainty-affect-prices\",\"name\":\"Commodity markets plunge as China\u2019s slowdown, Fed uncertainty affect prices - 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