Zariat Mushfique of DOT
[2] The World Bank said in its April Commodity Markets Outlook, “Sudden stop to economic activity and the serious global slowdown that is anticipated have hit worst energy and metals commodity prices,”
[3] The bank said that the COVID-19 pandemic has driven most commodity prices down amid the global economic shock, reports TBSnews. [4] It further projected that metal prices would drop 13 percent overall in 2020 as the shutdown, “Industrial metals would be affected the most by the global economic slowdown, in particular, that of China, which accounts for more than half of global metal demand,” [5] In a sharp downward revision from the October forecast, crude oil prices are projected to an average $35 per barrel in 2020, a 43 percent drop from the 2019 average of $61 per barrel.