The Rising Influence of Rising Affluence

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Commodity Crash Signals Disinflation Is Taking Hold for Now Cost of everything from metals to crops has plunged this year

Economists see inflation slowing, but warn some prices sticky

Cost of everything from metals to crops has plunged this year
Economists see inflation slowing, but warn some prices sticky
ByCarolynn Look and Enda Curran
May 31, 2023 at 3:19 AM EDTUpdated onMay 31, 2023 at 9:03 AM EDT

From copper to wheat to natural gas, the cost of some of the world’s most important products is crashing, bringing long-awaited relief for consumers that were stung by last year’s soaring prices.

The commodity crunch unleashed by Russia’s invasion of Ukraine has taken a sharp reversal, with a Bloomberg gauge dropping more than 10% since the start of the year to the lowest since 2021. Driving the disinflationary trend are a world economy flirting with recession, Europe’s industrial slump and China’s weaker-than-expected emergence from Covid Zero policies.

HRC is down $130 today to the $800 range. That's insane and a overreaction.

https://www.bloomberg.com/news/articles/2023-05-31/commodity-crash-signals-disinflation-is-taking-hold-for-now?srnd=premium&sref=XLA0GJqR