The commodities market worldwide has been erratic and uncertain in 2023. Many commodities experienced a substantial sell-off in the first half of 2023 as lower demand confidence reduced the risk premium. The Bloomberg Commodity Index (BCOM) had hit a 17-month low by the end of May and fell by 6.4% year-to-date.
This report aims to recap the key events that drove BCOM's collapse. We will examine the intricate dynamics within the Agriculture, Metal, and Energy sectors, and discuss the implications for investors in the coming 6-12 months. We hope this will provide our readers with valuable insights when assessing the market outlook.
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