Free Trial

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

  • 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 |
MNI London Bureau | +44 020-3983-7894 |

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.