Five Key Charts to Watch in Global Commodities This Week
OPEC+ alliance stunned traders by announcing it would triple the volume of output increases scheduled for May.
Photographer: Maya Sidiqqi/BloombergAfter a brutal few trading sessions for commodity markets, the global impact from US President Donald Trump’s will continue to be top of mind for traders this week. That will be the case as the mining world heads to a premier copper industry gathering this week in Chile. Meanwhile, the levies likely will make coffee more expensive for Americans. And the oil market is confronting a one-two punch of demand concerns and more supplies from OPEC+.
Before we get to the commodity charts, here’s a graphic capturing how the administration calculated its tariffs, which were primarily based on trade balances. The government detailed a formula that divides a country’s trade surplus with the US by its total exports. Then that number was divided by two, producing the “discounted” rate. Countries where the US runs a trade surplus were also hit, facing a flat 10% rate, as did nations where trade was roughly even.