06 April 2011 18:31 [Source: ICIS news]
LONDON (ICIS)--A key German raw materials price index rose sharply in March from February because of higher oil prices due to the ongoing conflict in ?xml:namespace>
The Hamburgisches Weltwirtschaftsinstitut (HWWI) said its raw materials price index rose 8.1% month on month in US dollar terms and 5.4% in euro terms.
However, excluding energy, the index fell 1.5% in US dollar and was down 4.0% in euro as metal and agricultural commodity prices fell in March.
Also, rubber prices fell 13.8% in US dollar and 16.0% in euro from February as many of
As for the outlook, HWWI said oil would continue to trade at high price levels.
Despite UN intervention, it remains unclear when the fighting in
Even after the fighting ends, Libya’s oil production may not resume immediately because of damage to oil facilities and harbour infrastructure, it added.
As for agricultural commodities, wheat, rice and corn (maize) prices are likely to rise, following a price decline in March from February, HWWI said.
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