14.07.2022

Press release

HWWI Consult GmbH

HWWI commodity price index shows mixed trend in June

Prices for energy commodities continue to rise, easing for industrial raw materials

  • HWWI overall index increased by 1.9% (US dollar basis)
  • Crude oil prices increased by 4.8%
  • Industrial raw materials decreased by 9%
  • Overall level remained high (69.1% above June 2021)

(Hamburg, July 14, 2022) In June, the HWWI commodity price index rose by an average of 1.9% compared to the previous month. Of the three sub-indices included in the index (index for energy raw materials, index for industrial raw materials and index for food and beverages), the index for industrial raw materials fell again in June, this time by 9%. The index for food, beverages and tobacco fell by 3.2%, while the index for energy raw materials rose by 3.5%. Due to the high weighting of energy commodities in the overall index, it also rose in June, by 1.9%. The overall index is thus 69.1% higher than in June 2021 (food and beverages +27%, industrial raw materials -11.3%, energy raw materials +90%). The high price level illustrates the continuing tense situation on the world markets, which is especially related to the Russian war of aggression in Ukraine.

Index for energy commodities rises again

The price of crude oil rose again in June by 4.8% compared to the previous month. Compared June 2021, the price increased by 59.3%.

The price of coal also continued to rise in June (1.5%) and was 209% higher than in June 2021.

After falling in May, the price of gas increased by 2.1% in June. It is currently 128.5% higher than in June 2021.

Overall, the energy commodities subindex rose by 3.5% (euro basis: 3.6%) to 350.6 points (euro basis: 379.9 points).

 

Index for industrial raw materials: Further easing of the price level

The sub-index for industrial raw materials, which is subdivided into the index for agricultural raw materials, the index for non-ferrous, the index for non-ferrous metals, and the index for iron ore and steel scrap, fell by 9% in June compared to the previous month, having already fallen by 8.2% in May.

This continues the slight easing in industrial raw material prices. The index for industrial raw materials is now actually 11.3% lower than a year earlier.

Overall, the index for industrial raw materials fell on a monthly average by 9% (euro basis:
-8.9%) to 142.6 points (euro basis: 154.4 points).

 

Index for food and beverages declines slightly

Like the sub-index for industrial raw materials, the index for food and beverages declined in June. It fell by 3.2% compared to the previous month. The value was 27% higher than the corresponding year-earlier figure. The sharpest fall in prices was for cereals (-6.3%). Prices for oilseeds fell by 2.6%, while those for food and beverages rose by 2% compared with the previous month.

Overall, the index for food, beverages and tobacco fell by an average of 3.2% for the month (euro basis: -3.1%) and stood at 176.6 points (euro basis: 190.9 points).

Public Relations

Elzbieta Hagemann

The HWWI Commodity Price Index is a comprehensive, weekly calculated indicator of price
developments in world commodity markets, which includes the major internationally traded commodities. Since 1960, the HWWI Commodity Price Index measures the price changes in the raw material import calculation of the industrialized countries and is thus an indicator for the cost development of imported raw materials and serves among other things central banks, research institutes and international institutions for their analyses.