20 December 2016
2016- n° 331In November 2016, metal price surged Prices of oil and raw material imports - November 2016
In November 2016, the price in euros of crude oil slipped back (−4.6% after +9.6%) to stand at €43.1 on average per barrel. Nevertheless. the price of Brent remained higher than a year before (+4.0%). The prices in euros of the other imported commodities accelerated sharply (+6.4% after +1.8% in October) driven by the strong hikein industrial raw materials (+10.0% after +3%). The prices of raw food materials recovered slightly (+0.5% after −0.1%).
In November 2016, the price in euros of crude oil slipped back (−4.6% after +9.6%) to stand at €43.1 on average per barrel. Nevertheless. the price of Brent remained higher than a year before (+4.0%). The prices in euros of the other imported commodities accelerated sharply (+6.4% after +1.8% in October) driven by the strong hikein industrial raw materials (+10.0% after +3%). The prices of raw food materials recovered slightly (+0.5% after −0.1%).
Oil price slipped back
In November, the price in euros of crude oil from the North Sea (Brent) fell back (−4.6% after +9.6%). Expressed in dollars, the decline in oil price is higher (−6.6% after +7.7%) because the euro depreciated a little during the month.
graphiqueGraph1 – Oil (Brent)
tableauTable1 – Oil and petroleum products
Prices | Change (%) | |||
---|---|---|---|---|
of last month | over the last month | over the last 3 months | over the last 12 months | |
Brent in $ per barrel | 46.4 | –6.6 | 0.7 | 4.5 |
Brent in € per barrel | 43.1 | –4.6 | 4.6 | 4.0 |
Gasoline €/L | 0.359 | –1.8 | 10.3 | 15.8 |
Gas Oil | 396.2 | –5.7 | 8.9 | –2.5 |
Heavy fuel | 264.4 | –0.1 | 7.5 | 20.4 |
Naphtha | 386.0 | –3.2 | 19.7 | –1.7 |
- Prices are in euros per tonne unless otherwise specified
- Source: INSEE
Industrial commodity prices surged
The prices in euros of industrial raw materials sped up strongly in November (+10.0% after +3.0%). Minerals prices gathered pace considerably (+12.2% after +3.0%). The price of iron ore took off (+27.3% after +4.2%), so did the price of copper (+21.5% after +1.7%), driven by the announcements of major construction works by the next American president. Therefore the prices of non-ferrous metals grew sharply (+9.6% after +3.4%). In addition, the prices of precious metals bounced back (+1.3% after −4.7%). The prices of agricultural raw materials remained dynamic (+1.9% after +3.0%), due especially to a further rise in natural rubber (+10.4% after +9.1%). Only the prices of sawn softwood decreased (−1.8% after +3.4%).
Raw food material prices recovered slightly
Expressed in euros, the prices of raw food materials recovered slightly (+0.5%), after four months of decline (−1.7% on average). Cereal prices climbed again a little (+0.5% after +1.8%). The price of beef meat edged up (+2.1% after −1.0%). The price of oil seeds and vegetable oils bounced back too (+3.3% after −2.6%), after 4 months of decline. The prices of tropical foodstuffs shrank though (−2.0% after +0.7%): the prices of Robusta, Arabica and tea kept rising but did not offset a further fall in cacao price (−7.3% in November) due to surplus supply. The price of sugar slipped back (−6.9% after +9.2%) after 6 months of rise.
tableauTable2 – Imported raw materials (excluding energy) in euros
Index | Changes (%) | |||
---|---|---|---|---|
of last month | over the last month | over the last 3 months | over the last 12 months | |
Food total | 211.1 | 0.5 | –0.6 | –1.4 |
Tropical foodstuffs | 207.6 | –2.0 | –1.6 | –9.0 |
Oil seeds, vegetable oils | 236.3 | 3.3 | 0.6 | 3.8 |
Cereals | 146.8 | 0.5 | –1.6 | –2.8 |
Sugar | 216.8 | –6.9 | 8.4 | 39.4 |
Beef meat | 135.6 | 2.1 | –5.3 | –11.8 |
Industrial raw materials | 173.9 | 10.0 | 11.9 | 23.2 |
Agricultural raw materials | 119.8 | 1.9 | 3.7 | 8.3 |
Natural Fibres | 139.9 | 2.5 | 2.5 | 13.0 |
Natural rubber | 167.6 | 10.4 | 23.2 | 39.3 |
Hides | 82.3 | 4.8 | 9.1 | 11.5 |
Wood pulp | 101.8 | 2.2 | 3.6 | –2.1 |
Tropical wood | 96.1 | 2.9 | –1.4 | –18.7 |
Sawn softwood | 102.4 | –1.8 | –2.4 | 17.2 |
Minerals | 202.2 | 12.2 | 14.1 | 27.9 |
Iron ore | 496.3 | 27.3 | 24.2 | 55.7 |
Non-ferrous metals | 162.5 | 9.6 | 13.4 | 21.9 |
Precious metals | 249.1 | 1.3 | –4.3 | 15.0 |
All commodities | 182.0 | 6.4 | 7.0 | 12.5 |
- Source: INSEE
graphiqueGraph3 – Food
graphiqueGraph2 – Imported raw materials (excluding energy)
graphiqueGraph4 – Industrial raw materials
Pour en savoir plus
Time series : Raw materials prices