Record after record in commodities

The 'perfect storm' in commodities continues unabated.

Rising energy prices and supply concerns created by the Ukraine-Russia war have caused many assets to rise to record prices in commodities.

Copper prices, which reached a new record level, reached 10 thousand 835 dollars per ton. Russia stands out as an important producer of copper. The country's copper production accounts for about 3.3 percent of global production.

Aluminum is also among record-breaking commodities. In aluminum, the price reached 4 thousand dollars. In addition to aluminum, a record was also seen in palladium.

Nickel prices, on the other hand, increased by 16 percent to over 33 thousand dollars. Thus, nickel prices were also at the highest level since 2008.

12,000 estimation in copper
Recent developments have also changed the expectations for assets in the commodity market.

Goldman Sachs analysts stated that there is already a moderate response to the risk of tightening in prices posed by the Ukraine-Russia war, and that the market has mispriced the Russian supply risk.

As a result of the analysis of the institution, he predicted that copper prices will rise to a record 12 thousand dollars in the next 12 months.

Russian oil embargo plan
US Secretary of State Antony Blinken announced that they are discussing with their European allies to stop oil imports from Russia.

Blinken, who participated in the "Meet the Press" program broadcast on the American NBC channel, said that they discussed the ban on oil imports from Russia on days when energy prices increased.

"We are actively discussing with our European partners the prohibition of Russia's oil sales to our countries. But we are also discussing the issue of maintaining a stable global oil supply," Blinken said. made its assessment.