World Bank Commodities Price Forecast (nominal US dollars)

Commodity

Unit

Energy
Coal, Australia
Crude oil, avg, spot
Natural gas, Europe
Natural gas, US
Natural gas LNG, Japan

$/mt
$/bbl
$/mmbtu
$/mmbtu
$/mmbtu

Non Energy Commodities

Agriculture
Beverages
Cocoa
Coffee, Arabica
Coffee, robusta
Tea, auctions (3), average

Released: January 22, 2015

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

84.6
104.1
11.8
3.7
16.0

70.1
96.2
10.1
4.4
15.8

67.0
53.2
8.5
4.0
11.0

69.7
56.9
8.6
4.2
11.1

72.6
60.8
8.8
4.5
11.3

75.6
65.0
8.9
4.7
11.4

78.6
69.4
9.1
5.0
11.6

81.9
74.1
9.2
5.3
11.7

85.2
79.2
9.4
5.6
11.9

88.7
84.6
9.5
5.9
12.0

92.3
90.4
9.7
6.3
12.2

96.1
96.7
9.8
6.6
12.3

100.0
103.4
10.0
7.0
12.5

$/kg
$/kg
$/kg
$/kg

2.44
3.08
2.08
2.86

3.06
4.42
2.22
2.72

2.85
4.10
2.10
2.75

2.78
4.04
2.07
2.79

2.71
3.97
2.04
2.83

2.64
3.91
2.01
2.88

2.57
3.85
1.97
2.92

2.50
3.79
1.94
2.97

2.44
3.73
1.91
3.01

2.38
3.67
1.89
3.06

2.32
3.61
1.86
3.10

2.26
3.56
1.83
3.15

2.20
3.50
1.80
3.20

$/mt
$/mt
$/mt
$/mt
$/mt
$/mt

941
1,773
857
545
1,057
538

1,280
1,313
821
528
909
492

1,200
1,400
700
525
820
450

1,166
1,440
709
520
836
457

1,133
1,480
719
516
853
463

1,101
1,522
729
511
870
470

1,070
1,565
738
507
888
477

1,039
1,609
748
502
906
484

1,010
1,655
758
498
924
491

981
1,702
769
493
942
498

953
1,750
779
489
961
505

926
1,799
789
484
980
513

900
1,850
800
480
1,000
520

Grains
Barley
Maize
Rice, Thailand, 5%
Wheat, US, HRW

$/mt
$/mt
$/mt
$/mt

202.2
259.4
505.9
312.2

137.6
192.9
422.8
284.9

140.0
180.0
415.0
280.0

143.6
183.6
411.4
279.5

147.2
187.4
407.8
279.0

151.0
191.2
404.2
278.5

154.8
195.0
400.6
278.0

158.7
199.0
397.1
277.5

162.8
203.0
393.6
277.0

166.9
207.1
390.2
276.5

171.2
211.3
386.8
276.0

175.5
215.6
383.4
275.5

180.0
220.0
380.0
275.0

Other Food
Bananas, EU
Meat, beef
Meat, chicken
Oranges
Shrimp, Mexico
Sugar, World

$/kg
$/kg
$/kg
$/kg
$/kg
$/kg

0.92
4.07
2.29
0.97
13.84
0.39

0.93
4.95
2.43
0.78
17.25
0.37

0.94
5.00
2.40
0.80
16.50
0.35

0.94
4.91
2.36
0.81
16.11
0.35

0.94
4.83
2.31
0.83
15.73
0.36

0.93
4.75
2.27
0.84
15.36
0.36

0.93
4.66
2.23
0.86
15.00
0.36

0.93
4.58
2.19
0.87
14.65
0.36

0.93
4.50
2.15
0.89
14.30
0.37

0.93
4.43
2.11
0.90
13.96
0.37

0.92
4.35
2.07
0.92
13.63
0.37

0.92
4.27
2.04
0.93
13.31
0.38

0.92
4.20
2.00
0.95
13.00
0.38

$/cum
$/cum
$/cum

463.5
305.4
852.8

465.2
282.0
897.9

450.0
270.0
870.0

457.4
277.9
889.0

465.0
286.0
908.4

472.6
294.3
928.3

480.4
302.9
948.6

488.4
311.8
969.3

496.4
320.9
990.5

504.6
330.2
1,012.2

512.9
339.9
1,034.3

521.4
349.8
1,056.9

530.0
360.0
1,080.0

$/kg
$/kg
$/mt

1.99
2.79
4,589

1.83
1.96
4,999

1.60
1.70
4,700

1.65
1.77
4,658

1.71
1.85
4,617

1.76
1.93
4,576

1.82
2.01
4,536

1.88
2.10
4,496

1.94
2.19
4,456

2.00
2.29
4,416

2.06
2.39
4,377

2.13
2.49
4,338

2.20
2.60
4,300

Fertilizers
DAP
Phosphate rock
Potassium chloride
TSP
Urea, E. Europe, bulk

$/mt
$/mt
$/mt
$/mt
$/mt

444.9
148.1
379.2
382.1
340.1

472.5
110.2
297.2
388.3
316.2

450.0
110.0
300.0
390.0
300.0

449.0
107.8
301.0
385.8
297.9

448.0
105.7
302.0
381.7
295.9

447.0
103.6
303.0
377.5
293.9

446.0
101.5
304.0
373.5
291.8

445.0
99.5
305.0
369.5
289.8

444.0
97.5
306.0
365.5
287.8

443.0
95.6
307.0
361.5
285.9

442.0
93.7
308.0
357.7
283.9

441.0
91.8
309.0
353.8
281.9

440.0
90.0
310.0
350.0
280.0

Metals and Minerals

Aluminum
Copper
Iron ore
Lead
Nickel
Tin
Zinc

$/mt
$/mt
$/dmt
$/mt
$/mt
$/mt
$/mt

1,847
7,332
135
2,140
15,032
22,283
1,910

1,867
6,863
97
2,095
16,893
21,899
2,161

1,925
6,500
75
2,000
16,000
20,000
2,200

1,946
6,529
78
2,037
16,190
20,281
2,228

1,968
6,559
81
2,074
16,381
20,567
2,257

1,990
6,589
84
2,112
16,575
20,856
2,286

2,012
6,618
87
2,151
16,772
21,150
2,315

2,034
6,648
91
2,191
16,971
21,448
2,345

2,057
6,678
94
2,231
17,172
21,749
2,375

2,080
6,709
98
2,272
17,375
22,056
2,406

2,103
6,739
102
2,314
17,581
22,366
2,437

2,126
6,769
106
2,357
17,789
22,681
2,468

2,150
6,800
110
2,400
18,000
23,000
2,500

$/toz
$/toz
$/toz

1,411
23.8
1,487

1,266
19.1
1,384

1,240
18.0
1,250

1,225
18.3
1,245

1,211
18.6
1,240

1,196
18.9
1,235

1,182
19.1
1,230

1,168
19.4
1,225

1,154
19.7
1,220

1,140
20.1
1,215

1,127
20.4
1,210

1,113
20.7
1,205

1,100
21.0
1,200

Food
Oils and Meals
Coconut oil
Groundnut oil
Palm oil
Soybean meal
Soybean oil
Soybeans

Raw Materials
Timber
Logs, Cameroon
Logs, Malaysia
Sawnwood, Malaysia
Other Raw Materials
Cotton A Index
Rubber, Malaysian
Tobacco

Precious Metals
Gold
Silver
Platinum

Next update: April 2015

-1-

World Bank Commodities Price Forecast (real 2010 US dollars)

Released: January 22, 2015

Commodity

Unit

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

Energy
Coal, Australia
Crude oil, avg, spot
Natural gas, Europe
Natural gas, US
Natural gas LNG, Japan

$/mt
$/bbl
$/mmbtu
$/mmbtu
$/mmbtu

79.7
98.1
11.1
3.5
15.0

66.2
90.9
9.5
4.1
14.9

63.4
50.3
8.0
3.8
10.4

64.8
52.9
8.0
3.9
10.4

66.3
55.6
8.0
4.1
10.3

68.0
58.4
8.0
4.3
10.3

69.6
61.4
8.0
4.4
10.2

71.3
64.6
8.0
4.6
10.2

73.1
67.9
8.0
4.8
10.2

74.8
71.4
8.0
5.0
10.2

76.6
75.0
8.0
5.2
10.1

78.4
78.9
8.0
5.4
10.1

80.2
82.9
8.0
5.6
10.0

Non Energy Commodities

Agriculture
Beverages
Cocoa
Coffee, Arabica
Coffee, robusta
Tea, auctions (3), average

$/kg
$/kg
$/kg
$/kg

2.30
2.90
1.96
2.70

2.89
4.18
2.09
2.57

2.70
3.88
1.99
2.60

2.58
3.75
1.92
2.59

2.47
3.63
1.86
2.59

2.37
3.52
1.80
2.59

2.28
3.41
1.75
2.59

2.18
3.30
1.69
2.59

2.09
3.20
1.64
2.58

2.01
3.10
1.59
2.58

1.92
3.00
1.54
2.58

1.84
2.90
1.49
2.57

1.76
2.81
1.44
2.57

$/mt
$/mt
$/mt
$/mt
$/mt
$/mt

887
1,672
808
514
996
508

1,209
1,240
775
498
859
464

1,136
1,325
663
497
776
426

1,083
1,337
659
483
777
424

1,035
1,353
657
471
780
423

990
1,369
655
460
783
423

947
1,386
654
448
786
422

906
1,402
652
437
789
422

866
1,419
650
427
792
421

828
1,436
649
416
795
420

791
1,452
646
406
798
419

756
1,468
644
395
800
418

722
1,484
642
385
802
417

Grains
Barley
Maize
Rice, Thailand, 5%
Wheat, US, HRW

$/mt
$/mt
$/mt
$/mt

190.6
244.6
477.0
294.4

129.9
182.2
399.4
269.1

132.5
170.4
392.8
265.0

133.4
170.6
382.2
259.7

134.5
171.2
372.7
255.0

135.8
172.0
363.6
250.5

137.1
172.7
354.7
246.1

138.3
173.4
346.1
241.8

139.6
174.1
337.6
237.6

140.9
174.8
329.2
233.3

142.1
175.4
320.9
229.0

143.2
175.9
312.8
224.8

144.4
176.4
304.8
220.6

Other Food
Bananas, EU
Meat, beef
Meat, chicken
Oranges
Shrimp, Mexico
Sugar, World

$/kg
$/kg
$/kg
$/kg
$/kg
$/kg

0.87
3.84
2.16
0.91
13.05
0.37

0.88
4.67
2.29
0.74
16.29
0.35

0.89
4.73
2.27
0.76
15.62
0.33

0.87
4.56
2.19
0.76
14.97
0.33

0.86
4.41
2.11
0.76
14.38
0.33

0.84
4.27
2.04
0.76
13.82
0.32

0.83
4.13
1.98
0.76
13.28
0.32

0.81
3.99
1.91
0.76
12.76
0.32

0.80
3.86
1.85
0.76
12.27
0.32

0.78
3.73
1.78
0.76
11.78
0.31

0.77
3.61
1.72
0.76
11.31
0.31

0.75
3.49
1.66
0.76
10.86
0.31

0.74
3.37
1.60
0.76
10.43
0.30

$/cum
$/cum
$/cum

437.1
288.0
804.1

439.3
266.4
848.1

425.9
255.6
823.5

425.0
258.2
825.9

425.0
261.4
830.3

425.1
264.8
835.0

425.4
268.2
839.9

425.6
271.7
844.7

425.8
275.2
849.5

425.8
278.6
854.0

425.7
282.0
858.3

425.4
285.4
862.3

425.1
288.7
866.2

$/kg
$/kg
$/mt

1.88
2.63
4,327

1.73
1.85
4,721

1.51
1.61
4,449

1.53
1.65
4,328

1.56
1.69
4,220

1.58
1.74
4,116

1.61
1.78
4,016

1.63
1.83
3,918

1.66
1.88
3,821

1.69
1.93
3,726

1.71
1.98
3,632

1.74
2.03
3,540

1.76
2.09
3,449

Fertilizers
DAP
Phosphate rock
Potassium chloride
TSP
Urea, E. Europe, bulk

$/mt
$/mt
$/mt
$/mt
$/mt

419.5
139.7
357.5
360.2
320.7

446.3
104.1
280.7
366.8
298.7

425.9
104.1
284.0
369.1
284.0

417.1
100.2
279.6
358.4
276.8

409.4
96.6
276.0
348.8
270.4

402.1
93.2
272.5
339.6
264.3

394.8
89.9
269.1
330.7
258.4

387.8
86.7
265.8
322.0
252.6

380.8
83.6
262.4
313.5
246.9

373.8
80.7
259.0
305.1
241.2

366.8
77.7
255.6
296.8
235.6

359.8
74.9
252.1
288.7
230.0

352.9
72.2
248.6
280.7
224.6

Metals and Minerals

Aluminum
Copper
Iron ore
Lead
Nickel
Tin
Zinc

$/mt
$/mt
$/dmt
$/mt
$/mt
$/mt
$/mt

1,741
6,913
128
2,018
14,173
21,010
1,801

1,764
6,482
92
1,979
15,955
20,683
2,041

1,822
6,152
71
1,893
15,144
18,930
2,082

1,808
6,066
72
1,892
15,041
18,843
2,070

1,799
5,994
74
1,896
14,972
18,797
2,063

1,790
5,926
76
1,900
14,910
18,760
2,056

1,781
5,860
77
1,905
14,849
18,725
2,050

1,773
5,794
79
1,909
14,789
18,691
2,044

1,764
5,728
81
1,914
14,727
18,653
2,037

1,755
5,661
83
1,917
14,661
18,610
2,030

1,745
5,592
85
1,920
14,590
18,560
2,022

1,735
5,523
86
1,923
14,514
18,506
2,014

1,724
5,454
88
1,925
14,437
18,447
2,005

$/toz
$/toz
$/toz

1,331
22.5
1,402

1,195
18.0
1,307

1,174
17.0
1,183

1,138
17.0
1,157

1,106
17.0
1,133

1,076
17.0
1,111

1,046
17.0
1,089

1,018
16.9
1,067

990
16.9
1,046

962
16.9
1,025

935
16.9
1,004

908
16.9
983

882
16.8
962

Food
Fats and Oils
Coconut oil
Groundnut oil
Palm oil
Soybean meal
Soybean oil
Soybeans

Raw Materials
Timber
Logs, Cameroon
Logs, Malaysia
Sawnwood, Malaysia
Other Raw Materials
Cotton A Index
Rubber, Malaysian
Tobacco

Precious Metals
Gold
Silver
Platinum

Next update: April 2015

-2-

World Bank Commodities Price Indicies

Released: January 22, 2015

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

127.4
101.7
106.3
83.3
115.6
115.9
128.2
103.9
95.4
102.6
87.6
113.7
90.8
90.3
115.1

118.3
97.0
102.7
101.8
107.4
109.0
103.9
108.4
92.0
104.9
77.8
100.5
84.8
89.0
101.1

70.4
92.3
97.8
96.1
102.8
101.3
100.1
107.3
86.4
101.3
70.1
98.4
80.3
87.0
98.2

74.9
92.8
98.2
94.8
103.0
101.8
100.7
106.7
88.2
103.7
71.3
97.6
81.2
87.7
97.5

79.7
93.4
98.7
93.5
103.2
102.4
101.3
106.1
90.1
106.1
72.6
96.8
82.2
88.5
96.9

84.7
94.0
99.1
92.2
103.5
103.0
102.0
105.6
92.1
108.6
74.0
96.1
83.3
89.2
96.2

90.0
94.7
99.7
91.0
103.8
103.6
102.6
105.0
94.1
111.2
75.4
95.3
84.3
90.0
95.6

95.7
95.3
100.2
89.9
104.1
104.2
103.3
104.5
96.1
113.8
76.9
94.6
85.4
90.7
94.9

101.7
96.0
100.8
88.7
104.3
104.9
104.0
103.9
98.3
116.5
78.4
93.9
86.4
91.5
94.3

108.2
96.7
101.4
87.6
104.6
105.6
104.7
103.4
100.5
119.2
80.0
93.2
87.6
92.3
93.7

115.1
97.5
102.0
86.5
105.0
106.3
105.5
102.8
102.8
122.0
81.8
92.5
88.7
93.1
93.2

122.6
98.3
102.7
85.5
105.3
107.0
106.3
102.3
105.1
124.8
83.5
91.8
89.9
93.9
92.6

130.6
99.1
103.4
84.5
105.7
107.7
107.1
101.8
107.5
127.8
85.4
91.1
91.0
94.7
92.0

Price indices in real 2010 US dollars (2010=100) c/

Energy
120.1
Non-energy commodities
95.9
Agriculture
100.2
Beverages
78.5
Food
109.0
Fats and oils
109.3
Grains
120.9
Other food
98.0
Raw materials
90.0
Timber
96.7
Other Raw Materials
82.6
Fertilizers
107.2
Metals and minerals a/
85.6
Base Metals b/
85.2
Precious Metals
108.5

111.7
91.6
97.0
96.1
101.4
102.9
98.1
102.4
86.9
99.0
73.5
94.9
80.1
84.1
95.5

66.6
87.3
92.5
91.0
97.3
95.8
94.7
101.6
81.8
95.9
66.3
93.1
76.0
82.3
93.0

69.6
86.2
91.2
88.1
95.7
94.6
93.5
99.1
82.0
96.4
66.3
90.7
75.5
81.5
90.6

72.8
85.4
90.2
85.4
94.4
93.6
92.6
97.0
82.4
97.0
66.4
88.5
75.2
80.8
88.5

76.2
84.6
89.2
83.0
93.1
92.6
91.7
95.0
82.8
97.7
66.5
86.4
74.9
80.2
86.5

79.7
83.8
88.2
80.6
91.9
91.7
90.9
93.0
83.3
98.4
66.7
84.4
74.6
79.7
84.6

83.4
83.1
87.3
78.3
90.7
90.8
90.0
91.1
83.8
99.2
67.0
82.5
74.4
79.1
82.7

87.2
82.3
86.4
76.1
89.5
89.9
89.2
89.1
84.3
99.9
67.3
80.5
74.1
78.5
80.9

91.3
81.6
85.6
73.9
88.3
89.1
88.4
87.2
84.8
100.6
67.5
78.6
73.9
77.9
79.1

95.6
80.9
84.7
71.8
87.1
88.2
87.5
85.3
85.3
101.2
67.8
76.7
73.6
77.2
77.3

100.0
80.2
83.8
69.7
85.9
87.3
86.7
83.4
85.8
101.9
68.2
74.9
73.3
76.6
75.5

104.7
79.5
82.9
67.8
84.8
86.4
85.9
81.6
86.3
102.5
68.5
73.1
73.0
75.9
73.8

Inflation indices, 2010=100 d/

MUV index e/
% change per annum
US GDP deflator
% change per annum

105.9
(0.2)
106.9
1.3

105.7
(0.2)
108.5
1.6

107.6
1.9
110.7
2.0

109.4
1.7
113.0
2.0

111.2
1.6
115.3
2.0

112.9
1.6
117.6
2.0

114.8
1.6
120.0
2.0

116.6
1.6
122.4
2.0

118.5
1.6
124.9
2.0

120.5
1.7
127.4
2.0

122.6
1.7
130.0
2.0

124.7
1.7
132.6
2.0

Price indices in nominal US dollars (2010=100)

Energy
Non-energy commodities
Agriculture
Beverages
Food
Fats and oils
Grains
Other food
Raw materials
Timber
Other Raw Materials
Fertilizers
Metals and minerals a/
Base Metals b/
Precious Metals

106.1
(1.4)
105.4
1.5

Notes:
Next update: April 2015
a/ Base metals plus iron ore
b/ Includes aluminum, copper, lead, nickel, tin and zinc
c/ Real price indices are computed from unrounded data and deflated by the MUV index.
d/ Inflation indices for 2013-2025 are projections
e/ Unit value index of manufacture exports (MUV) in US dollar terms for fifteen countries (Brazil, Canada, China, Germany, F rance, India, Italy, Japan, Mexico, Republic of
Korea, South Africa, Spain, Thailand, United Kingdom, and United States).

Description of Price Series

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Description of Price Series

Coal (Australia), thermal, f.o.b. piers, Newcastle/Port Kembla, 6,700 kcal/kg, 90 days forward delivery beginning year 2011; for period 2002-2010, 6,300 kc/kg (11,340 btu/lb); prior to year 2002,
6,667 kcal/kg (12,000 btu/lb).
Crude oil, average price of Brent, Dubai and West Texas Intermediate, equally weighed.
Natural Gas (Europe), average import border price, including UK. As of April 2010 includes a spot price component. Between June 2000 - March 2010 excludes UK.
Natural Gas (U.S.), spot price at Henry Hub, Louisiana.
Natural gas LNG (Japan), import price, cif, recent two months' averages are estimates.
Cocoa (ICCO), International Cocoa Organization daily price, average of the first three positions on the terminal markets of New York and London, nearest three future trading months.
Coffee (ICO), International Coffee Organization indicator price, other mild Arabicas, average New York and Bremen/Hamburg markets, ex-dock.
Coffee (ICO), International Coffee Organization indicator price, Robustas, average New York and Le Havre/Marseilles markets,ex-dock. Tea, average three auctions, arithmetic average of quotations
at Kolkata, Colombo and Mombasa/Nairobi.

Coconut oil (Philippines/Indonesia), bulk, c.i.f. Rotterdam. Copra (Philippines/Indonesia), bulk, c.i.f. N.W. Europe.
Groundnut oil (any origin), c.i.f. Rotterdam.
Palm oil (Malaysia), 5% bulk, c.i.f. N. W. Europe.
Soybean meal (any origin), Argentine 45/46% extraction, c.i.f. Rotterdam beginning 1990; previously US 44%.
Soybean oil (Any origin), crude, f.o.b. ex-mill Netherlands.
Soybeans (US), c.i.f. Rotterdam.
Barley (US) feed, No. 2, spot, 20 days To-Arrive, delivered Minneapolis from May 2012 onwards; during 1980 - 2012 April Canadian, feed, Western No. 1, Winnipeg Commodity Exchange, spot,
wholesale farmers' price.
Maize (US), no. 2, yellow, f.o.b. US Gulf ports.
Rice (Thailand), 5% broken, white rice (WR), milled, indicative price based on weekly surveys of export transactions, government standard, f.o.b. Bangkok.
Wheat (US), no. 1, hard red winter, ordinary protein, export price delivered at the US Gulf port for prompt or 30 days shipment.
Bananas (Central & South America), major brands, free on truck (f.o.t.) Southern Europe, including duties; prior to October2006, f.o.t. Hamburg.
Meat, beef (Australia/New Zealand), chucks and cow forequarters, frozen boneless, 85% chemical lean, c.i.f. U.S. port (East Coast), ex-dock, beginning November 2002; previously cow forequarters.
Meat, chicken (US), broiler/fryer, whole birds, 2-1/2 to 3 pounds, USDA grade "A", ice-packed, Georgia Dock preliminary weighted average, wholesale.
Meat, sheep (New Zealand), frozen whole carcasses Prime Medium (PM) wholesale, Smithfield, London beginning January 2006; previously Prime Light (PL).
Oranges (Mediterranean exporters) navel, EEC indicative import price, c.i.f. Paris.
Shrimp , (Mexico), west coast, frozen, white, No. 1, shell-on, headless, 26 to 30 count per pound, wholesale price at New York.
Sugar (world), International Sugar Agreement (ISA) daily price, raw, f.o.b. and stowed at greater Caribbean ports.

Logs (West Africa), sapele, high quality (loyal and marchand), 80 centimeter or more, f.o.b. Douala, Cameroon beginning January 1996; previously of unspecified dimension.
Logs (Malaysia), meranti, Sarawak, sale price charged by importers, Tokyo beginning February 1993; previously average of Sabah and Sarawak weighted by Japanese import volumes.
Sawnwood (Malaysia), dark red seraya/meranti, select and better quality, average 7 to 8 inches; length average 12 to 14 inches; thickness 1 to 2 inch(es); kiln dry, c. & f. UK ports, with 5% agents
commission including premium for products of certified sustainable forest beginning January 2005; previously excluding the premium.
Cotton (Cotton Outlook "Cotlook A index"), middling 1-3/32 inch, traded in Far East, C/F beginning 2006; previously Northern Europe, c.i.f.
Rubber (Asia), RSS3 grade, Singapore Commodity Exchange Ltd (SICOM) nearby contract beginning 2004; during 2000 to 2003, Singapore RSS1; previously Malaysia RSS1.
DAP (diammonium phosphate), standard size, bulk, spot, f.o.b. US Gulf.
Phosphate rock (Morocco), 70% BPL, contract, f.a.s. Casablanca.
Potassium chloride (muriate of potash), standard grade, spot, f.o.b. Vancouver.
TSP (triple superphosphate), bulk, spot, beginning October 2006, Tunisian origin, granular, fob; previously US origin, f.o.b.US Gulf.
Urea, (Black Sea), bulk, spot, f.o.b. Black Sea (primarily Yuzhnyy) beginning July 1991; for 1985-91 (June) f.o.b. Eastern Europe.
Aluminum (LME) London Metal Exchange, unalloyed primary ingots, high grade, minimum 99.7% purity, settlement price beginning2005; previously cash price.
Copper (LME), grade A, minimum 99.9935% purity, cathodes and wire bar shapes, settlement price. Iron ore (any origin) fines, spot price, c.f.r. China, 62% Fe beginning December 2008; previously
63.5%.
Lead (LME), refined, 99.97% purity, settlement price.
Nickel (LME), cathodes, minimum 99.8% purity, settlement price beginning 2005; previously cash price.
Tin (LME), refined, 99.85% purity, settlement price.
Zinc (LME), high grade, minimum 99.95% purity, settlement price beginning April 1990; previously special high grade, minimum 99.995%, cash prices .
Gold (UK), 99.5% fine, London afternoon fixing, average of daily rates.
Platinum (UK), 99.9% refined, London afternoon fixing.
Silver (UK), 99.9% refined, London afternoon fixing; prior to July 1976 Handy & Harman. Grade prior to 1962 unrefined silver.

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