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Minerals & Energy Outlook: May 2020
Commodity prices generally fell in April – with particularly steep falls in oil and Liquefied Natural Gas (LNG) markets, along with declines in iron ore and coal. The global economic outlook has continued to deteriorate – with a wider range of economies impacted by countermeasures to control the spread of COVID-19. Although China has commenced its recovery phase, consumers remain cautious and industry has not reached its pre-virus level. A second-wave of infections that led to the lockdown of the city of Harbin highlight the risks around recovery. In annual average terms, US dollar denominated commodity prices ... (full story)