Commodity Markets Outlook, April 2021

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dc.creatorWorld Bank Group
dc.date2021-04-20T16:58:00Z
dc.date2021-04-20T16:58:00Z
dc.date2021-04-20
dc.date.accessioned2026-07-01T00:37:40Z
dc.descriptionCommodity prices continued to recover in the first quarter of 2021 from lows reached in 2020, supported by the global economic recovery, improved growth prospects, and supply factors specific to crude oil, copper, and some food commodities. Looking ahead, oil prices are forecast to average $56/bbl in 2021, 36 percent higher than in 2020, and see a further rise to $60/bbl in 2022 as demand continues to recover. Metal prices are expected to average 30 percent higher in 2021 than in 2020 on the back of strong demand before dropping back somewhat in 2022. Agriculture prices are forecast to average nearly 14 percent higher in 2021, driven by a few food commodities, and are expected to stabilize thereafter. A Special Focus section examines the impact of metal price shocks on metal-exporting countries. Since global metal prices are predominantly driven by global demand shocks, metal price swings can amplify the impact of global downturns and recessions—or conversely, upturns—for metal exporters. Metal price jumps are associated with small, temporary gains from price increases for metal exporters, but metal price collapses tend to lead to larger, and longerlasting, output losses.
dc.formatapplication/pdf
dc.formatapplication/octet-stream
dc.identifierhttp://documents.worldbank.org/curated/en/782901618928712786/Commodity-Markets-Outlook
dc.identifierhttps://hdl.handle.net/10986/35458
dc.identifierhttps://doi.org/10.1596/35458
dc.identifier.urihttp://hdl.handle.net/123456789/407718
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by/3.0/igo
dc.rightsWorld Bank
dc.subjectPRICE SHOCK
dc.subjectCOMMODITY PRICES
dc.subjectENERGY
dc.subjectAGRICULTURE
dc.subjectFERTILIZER
dc.subjectMETALS AND MINERALS
dc.subjectPRECIOUS METALS
dc.subjectPRICE FORECASTS
dc.subjectPRICE SERIES
dc.subjectECONOMIC OUTLOOK
dc.subjectOIL PRICES
dc.subjectFOOD PRICES
dc.subjectPANDEMIC IMPACT
dc.subjectCORONAVIRUS
dc.subjectCOVID-19
dc.titleCommodity Markets Outlook, April 2021
dc.titleCauses and Consequences of Metal Price Shocks
dc.typeSerial
dc.typeSériel
dc.typeSerial

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