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In January 2013, oil prices in euro terms rebounded

Price of oil and imported raw materials – January 2013

In January, the price of crude oil in euro terms rebounded (+1.2% after –2.2% in December). It stood at €84.3 per barrel of Brent. In euro terms, the prices of commodities except energy imported into France remained stable (+0.0% after +0.4% in December).

Oil prices revived

In January, the price of crude oil from the North Sea (Brent) in euro terms recovered (+1.2% after -2.2%). In dollar terms, the price of Brent rose by 2.6% to $112.1 per barrel, but in euro terms, prices benefited from the depreciation of the dollar against the European currency (-1.3%).

Imported industrial raw material prices slowed down

In January, the prices of industrial raw materials in euro terms grew less strongly than in December (+1.0% after +2.8%). On the one hand, mineral raw materials prices moderated (+1.6% after +3.0%). Indeed, non-ferrous metals prices went down (-1.6% after +3.5%), especially those of aluminum (–3.6% after +5.0%), zinc (-1.5% after +4.4%), nickel (-1.0% after +4.5%), and to lesser extend copper (–0.2% after +1.2%). Likewise, precious metals prices went on declining (-2.1% after -3.5%), mainly those of silver (–3.9%) and gold (-2.3%). These drops thus partially offset the marked surge in iron ore prices (+15.3% after +4.7%).

On the other hand, agricultural raw materials prices dipped slightly (-0.5% after +2.0%), with the slowdown of sawn softwood prices (+2.0% after +7.2%) and the decrease in tropical wood prices (–2.4%). Yet, prices of natural rubber expanded further (+4.0% after +1.1%) and those of natural textile fibers were up again (+1.1%).

Raw food materials prices down again

In January, the prices of raw food materials in euro terms fell again (-2.6% after -3.6% in December).

The drop in tropical foodstuff prices continued (-3.9% after -5.1%), notably for cocoa (-7.7%) and tea (–4.8%). Oilseeds prices slipped further (-3.2% after –2.8%), mainly those of soybean meal (-8.4% after –2.3%). Likewise, sugar prices went on decreasing (-3.9% after –2.8%). Finally, cereals prices leveled off (-0.6% after –5.9%) due to a less marked dip in corn prices (-1.9% after –5.1%) and to the stagnation of rice prices (+0.1 after –6.4%).

Oil and petroleum products
in euros
Prices are in euros per ton unless otherwise specified
Source : INSEE
Prices Change (%)
of last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 112.1 2.6 0.3 0.5
Brent in € per barrel 84.3 1.2 –2.2 –2.5
Gasoline €/L 0.57 3.6 –6.0 –1.7
Gas Oil 721.1 2.2 –4.9 –2.2
Heavy fuel 478.5 4.0 –4.1 –9.1
Naphtha 701.1 –2.2 –4.7 –4.3
Imported raw materials (excluding energy) in euros
2000 = 100
Source : INSEE
Index Changes (%)
over the last month over the last 3 months over the last 12 months
Food total 184.6 –2.6 –8.1 3.3
Tropical foodstuff 148.1 –3.9 –9.6 –12.7
Oil seeds. vegetable oils 237.2 –3.2 –9.7 24.6
Cereals 211.5 –0.6 –5.3 5.2
Sugar 157.4 –3.9 –10.5 –24.6
Beef meat 116.5 3.2 –0.2 –0.3
Industrial raw materials 182.4 1.0 4.7 –1.7
Agricultural raw materials 111.4 –0.5 6.2 5.2
Natural Fibers 139.7 1.1 2.7 –16.7
Natural rubber 324.6 4.0 0.5 –14.5
Hides 81.7 –1.2 5.8 27.5
Wood pulp 84.4 1.0 0.3 –4.6
Tropical wood 100.1 –2.4 –2.7 –3.7
Sawn softwood 103.9 2.0 25.2 46.3
Minerals 221.2 1.6 4.2 –3.9
Iron ore 837.8 15.3 28.9 4.0
Non-ferrous metals 164.4 –1.6 –0.2 –6.6
Precious metals 298.9 –2.1 –6.0 –0.6
All commodities 176.6 0.0 0.0 0.2

Oil

Oil

Source : INSEE

Food

Food

Source : INSEE

All commodities

All commodities

Source : INSEE

Industrial raw materials

Industrial raw materials

Source : INSEE

Informations Rapides

n° 34 - February 13, 2013

Prices of oil and raw material imports - January 2013

Next issue Mid-August 2014 - July 2014

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