LONDON, Oct 25 (AFP): Raw material prices endured a mixed week as investors tracked the outlook for global economic growth and the Ebola virus outbreak.
OIL: Oil prices headed back towards multi-month low points in volatile trading, pressured by a crude oversupply and weak demand from slowing world economies.
Futures though won brief strong gains on Thursday, "supported by the announcement that Saudi Arabia supplied less crude oil to the market in September", noted Dorian Lucas, an analyst at energy consultancy Inenco.
WTI has fallen to two-year lows and Brent to its lowest levels in four years during October, pressured by a crude oversupply and weak demand from slowing world economies.
Other analysts said investors were closely watching also the impact of the Ebola virus health risk on global economies.
"Fresh concern over Ebola is really the last thing we like to see right now, which may have an overhang effect on oil demand," said Desmond Chua, market analyst at CMC Markets.
PRECIOUS METALS: Gold prices hit five-week highs on Tuesday before succumbing to profit-taking.
Gold reached $1,255.37 an ounce, the highest level since mid-September, benefiting from its status as a haven investment during times of economic turbulence.
BASE METALS: Base or industrial metal prices mainly rose thanks to events in China.
Reports at the start of the week said China's central bank plans to inject 200 billion yuan ($32.6 billion) into the banking system after a recent spate of monetary easing failed to kickstart the Asian economic giant.
COFFEE: The market recoiled to one-month lows on the back of favourable weather for growing conditions in top producer Brazil.
Prices sank as low as 189.30 US cents in New York and $2,005 in London.
By Friday on ICE Futures US, Arabica for delivery in December dipped to 192.10 US cents a pound from 213.20 cents a week earlier.
COCOA: Prices pulled lower but traders remained nervous over the possible impact of the Ebola outbreak in west Africa.
Cocoa futures had soared in September to 3.5-year peaks on worries that Ebola could hit output in Ivory Coast and Ghana -- the two biggest producers which account for 60 per cent of the world's cocoa.
However now "the market seems to have little reason to go up as West Africa prepares and starts to harvest what could be a big crop", said Scoville.
SUGAR: The sugar market receded.
By Friday on LIFFE, the price of a tonne of white sugar for delivery in December traded at $426.20 compared with $426.40 a week earlier.
On ICE Futures US, the price of unrefined sugar for March fell to 16.32 US cents a pound from 16.59 US cents a week earlier.
RUBBER: Kuala Lumpur rubber prices extended gains, hitting a six-week high, boosted by the Thai government's announcement it will help planters.
The Malaysian Rubber Board's benchmark SMR20 rose to 159.70 US cents a kilo on Friday, up from 149.90 US cents the previous week.
© 2026 - All Rights with The Financial Express
