(May 10 – 11:15 ET) -. TD’s Commodity Price Index dropped by 2.1% in April. The prospect of interest-rate hikes is hurting global economic growth, says the economists at TD Bank.

However the decline should reverse itself in coming months, says Sheryl King. She says that growth in Europe and Asia should boost base metal demand. Strong demand in North America for the summer driving season should restore oil demand.

Lumber prices fell almost 10% in April despite strong residential construction activity. However pulp prices rose on tight supply and firm demand. Newsprint prices were also up. Gold slipped, with renewed central bank sales hitting it, says King.
-IE Staff