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SA Terms of Trade Make New Highs, Just Shy of 2021 Peak

SOUTH AFRICA
  • The Citi Terms of trade index continues to drive higher this week, having eclipsed the May/June ’21 highs. The index is up +13.52% since the start of Feb & 20.06% YTD supported by demand for precious metals.
  • Rhodium & palladium are leading the way higher (+38%), followed by thermal coal (27.21%) – graph attached shows YTD % change.

Commodities % change

Citi TOT Index

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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