Customer Logins

Obtain the data you need to make the most informed decisions by accessing our extensive portfolio of information, analytics, and expertise. Sign in to the product or service center of your choice.

Customer Logins

My Logins

All Customer Logins
S&P Global Market Intelligence

  • S&P Global
  • S&P Dow Jones Indices
  • S&P Global Market Intelligence
  • S&P Global Mobility
  • S&P Global Commodity Insights
  • S&P Global Ratings
  • S&P Global Sustainable1
Close
Discover more about S&P Global’s offerings
Investor Relations
  • Investor Relations Overview
  • Investor Presentations
  • Investor Fact Book
  • News Releases
  • Quarterly Earnings
  • SEC Filings & Reports
  • Executive Committee
  • Corporate Governance
  • Merger Information
  • Stock & Dividends
  • Shareholder Services
  • Contact Investor Relations
Languages
  • English
  • 中文
  • 日本語
  • 한국어
  • Português
  • Español
  • ไทย
About
  • About Us
  • Contact Us
  • Email Subscription Center
  • Media Center
  • Glossary
Product Login
S&P Global Market Intelligence
  • Who We Serve
  • Solutions
  • News & Insights
  • Events
  • Product Login
  • Request Follow Up
  •  
    • Academia
    • Commercial Banking
    • Corporations
     
    • Government & Regulatory Agencies
    • Insurance
    • Investment & Global Banking
     
    • Investment Management
    • Private Equity
    • Professional Services
  • WORKFLOW SOLUTIONS
    • Capital Formation
    • Credit and Risk Solutions
    • Data & Distribution
    • Economics & Country Risk
    • Sustainability
    • Financial Technology Solutions
     
    • Issuer & IR Solutions
    • Lending Solutions
    • Post Trade Processing
    • Private Markets
    • Risk, Compliance, & Reporting
    • Supply Chain
    PRODUCTS
    • S&P Capital IQ Pro
    • S&P Global Marketplace
    • China Credit Analytics
    • Climate Credit Analytics
    • Credit Analytics
    • RatingsDirect ®
    • RatingsXpress ®
    • 451 Research
    See More S&P Global Solutions
     
    • Capital Access
    • Corporate Actions
    • KY3P ®
    • EDM
    • PMI™
    • BD Corporate
    • Bond Pricing
    • ChartIQ
  • CONTENT
    • Latest Headlines
    • Special Features
    • Blog
    • Research
    • Videos
    • Infographics
    • Newsletters
    • Client Case Studies
    PODCASTS
    • Economics & Country Risk
    • IR in Focus
    • Maritime and Trade Talk
    • Masters of Risk
    • Next in Tech
    • Private Markets 360°
    • Street Talk
    • The Pipeline: M&A and IPO Insights
    SEE ALL EPISODES
    SECTOR-SPECIFIC INSIGHTS
    • Differentiated Data
    • Banking & Insurance
    • Energy
    • Maritime, Trade, & Supply Chain
    • Metals & Mining
    • Technology, Media, & Telecoms
    • Investment Research
    • Sector Coverage
    • Expert Directory
    More ways we can help
    NEWS & RESEARCH TOPICS
    • Economics & Country Risk
    • Generative AI
    • Financial Services
    • Liquidity Crunch
    • Maritime & Trade
    • M&A
    • Private Markets
    • Sustainability & Climate
    • Technology
    See More
    • All Events
    • In-Person
    • Webinars
    • Webinar Replays
    Featured Events
    Webinar2024 Regulatory Reporting Horizon: what to expect and how to prepare
    • 12/05/2023
    • Live, Online
    • 03:00 pm - 04:00 pm GMT | 10:00 am- 11:00 am EST
    WebinarUnderstanding, Identifying, and Assessing Supplier Diversity
    • 12/06/2023
    • Live, Online
    • 01:00 pm - 02:00 pm EST
    Webinar2024 Regulatory Reporting Horizon: what to expect and how to prepare
    • 12/05/2023
    • Live, Online
    • 03:00 pm - 04:00 pm GMT | 10:00 am- 11:00 am EST
  • PLATFORMS
    • S&P Capital IQ Pro
    • S&P Capital IQ
    • S&P Global China Credit Analytics
    OTHER PRODUCTS
    • Credit Analytics
    • Panjiva
    • Money Market Directories
     
    • Research Online
    • 451 Research
    See All Product Logins
BLOG Sep 21, 2022

Weekly Pricing Pulse: Commodity prices rise in a calm week for energy markets

Contributor Image
Thomas McCartin

Our Materials Price Index (MPI) increased 0.8% last week, with six of the ten sub-components rising. The scale of week-to-week price changes was much smaller than 3.6% average change over the last four weeks. The lower volatility reflected a comparatively quiet week in energy, steel, and nonferrous metals markets.

MPI commodity price Materials price index

The MPI's energy subcomponent increased 1.6% last week, a far cry from the 9.8% average weekly change in the previous four weeks. Natural gas markets were the biggest energy mover, posting a 3.6% increase following two straight weeks of double digit declines. Lumber prices jumped 3% last week, though prices remain near their lowest level of 2022 as US homebuilding has cooled. The freight rate index also saw a noticeable 2% rebound following seven straight weeks of declines, though the reversal of the downward trend may be temporary as the iron ore market saw low volume last week amid soft demand in mainland China. The chemicals subcomponent stood out on the downside, posting a 1.8% weekly decline. A 4.4% drop in Asian ethylene prices pulled the sub index lower as concerns over global growth and specifically demand in mainland China weigh on the chemicals market. The weakness in chemicals -- the subcomponent is down 21% y/y -- is eye-opening given that energy products, major inputs in chemicals production, are 95% higher y/y as measured by the MPI's energy index.

Materials price index

Although the MPI notched an increase last week, there are clear signs of softening demand. Central banks around the world are aggressively tightening financial markets to reign in demand and thus tame inflation. Seven central banks will hold meetings this week, with most expected to raise interest rates again, including the US Federal Reserve and the Bank of England. Although commodity prices have been moving lower since March, they remain high. Moreover, the chance of energy shortages in Europe this winter presents significant upside price risk for energy-intensive commodities, including metals and chemicals. Notwithstanding these concerns, a softening macroeconomic outlook leads us to continue to project lower inflation over the next year.

Materials price index softening demand

Posted 21 September 2022 by Thomas McCartin, Senior Economist, Pricing & Purchasing, S&P Global Market Intelligence


This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.

Previous Next
Recommended for you

Global Economy
Country Risk
Pricing & Purchasing

A disjointed world

Key economic, geopolitical and supply chain drivers for 2024
Request full report

From neighborhood to nation we have you covered

Regional Explorer: Economics, risk, and data analytics
Learn more
Get a 360 degree perspective

Subscribe to our blog newsletter

Sign up
Related Posts
VIEW ALL
Blog Dec 05, 2023

Bracing for El Niño’s impact

Blog Dec 04, 2023

A disjointed world: Themes for 2024

Blog Dec 01, 2023

Mexico’s plans for passenger rail service pose risks for rail operators, supply chains

VIEW ALL
{"items" : [ {"name":"share","enabled":true,"desc":"<strong>Share</strong>","mobdesc":"Share","options":[ {"name":"facebook","url":"https://www.facebook.com/sharer.php?u=http%3a%2f%2fwww.spglobal.com%2fmarketintelligence%2fen%2fmi%2fresearch-analysis%2fweekly-pricing-pulse-commodity-prices-rise-calm-week-energy.html","enabled":true},{"name":"twitter","url":"https://twitter.com/intent/tweet?url=http%3a%2f%2fwww.spglobal.com%2fmarketintelligence%2fen%2fmi%2fresearch-analysis%2fweekly-pricing-pulse-commodity-prices-rise-calm-week-energy.html&text=Weekly+Pricing+Pulse%3a+Commodity+prices+rise+in+a+calm+week+for+energy+markets+%7c+S%26P+Global+","enabled":true},{"name":"linkedin","url":"https://www.linkedin.com/sharing/share-offsite/?url=http%3a%2f%2fwww.spglobal.com%2fmarketintelligence%2fen%2fmi%2fresearch-analysis%2fweekly-pricing-pulse-commodity-prices-rise-calm-week-energy.html","enabled":true},{"name":"email","url":"?subject=Weekly Pricing Pulse: Commodity prices rise in a calm week for energy markets | S&P Global &body=http%3a%2f%2fwww.spglobal.com%2fmarketintelligence%2fen%2fmi%2fresearch-analysis%2fweekly-pricing-pulse-commodity-prices-rise-calm-week-energy.html","enabled":true},{"name":"whatsapp","url":"https://api.whatsapp.com/send?text=Weekly+Pricing+Pulse%3a+Commodity+prices+rise+in+a+calm+week+for+energy+markets+%7c+S%26P+Global+ http%3a%2f%2fwww.spglobal.com%2fmarketintelligence%2fen%2fmi%2fresearch-analysis%2fweekly-pricing-pulse-commodity-prices-rise-calm-week-energy.html","enabled":true}]}, {"name":"rtt","enabled":true,"mobdesc":"Top"} ]}
Filter Sort
  • About Us
  • Quality Program
  • Contact Us
  • Email Subscription Center
  • Press Releases
  • Careers
  • Corporate Responsibility
  • Our History
  • Investor Relations
  • Leadership
  • © 2023 S&P Global
  • Terms of Use
  • Cookie Notice
  • Privacy Policy
  • Disclosures
  • Do Not Sell My Personal Information