The final week of October yielded mixed results across the different commodity markets and sectors. As the month wore on, investors started to become somewhat risk adverse given the amount of incoming data pointing towards slower growth around the world. Some of the slowdown is being driven directly by elevated commodity prices, not least the recent surge in fossil fuel prices forcing several heavy power consuming industries to reduce production levels. In addition, a sharp drop in coal and gas prices helped reduce some of the recent tailwind that supported crude oil and industrial metals.



