Skip to main content

Commodities Overview Chart Pack (Sep. 2023)

Prices will remain buffeted by weak global economic growth and a strong dollar, at a time of mounting supply risks and some policy stimulus in China. These conflicting pressures suggest that prices will be fairly rangebound in the coming months. In particular, we expect energy prices to remain close to current highs on concerns about supply. The macroeconomic backdrop for commodity prices looks more positive in 2024. Demand for many commodities should receive a boost as developed economy central banks embark on monetary easing. What’s more, we expect the US dollar to slip back and risk appetite to improve. That said, subdued growth in China will remain a headwind, particularly for the oil market which has been a major beneficiary this year from the lifting of travel restrictions in China.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access