05 Jun 17
Table 3. Actual Market Prices for Non-Fuel and Fuel Commodities, 2014-2017
Commodities
Units
2014
2015
2016
2016Q2
2016Q3
2016Q4
2017Q1
4-2017
5-2017
$/MT
$/MT
$/MT
$/MT
242.5
192.9
426.5
146.1
185.6
169.8
380.0
127.9
143.2
159.2
388.3
129.4
159.2
171.1
401.8
137.4
128.2
153.4
418.2
131.1
122.6
152.2
365.3
129.3
143.6
160.6
369.6
135.2
138.4
156.4
374.5
138.8
146.5
158.6
402.3
142.1
$/MT
$/MT
$/MT
$/MT
$/MT
$/MT
$/MT
$/MT
$/MT
457.8
467.0
812.7
739.4
1921.5
1080.3
3780.6
2148.3
904.4
347.4
352.7
672.2
565.1
1759.2
1022.2
4292.8
1946.2
774.6
362.7
350.2
721.2
639.8
1418.5
1009.7
3978.5
1798.3
822.0
387.8
392.9
719.7
647.8
1511.5
1028.6
3897.5
1855.4
797.7
372.2
370.0
701.4
647.0
1409.7
982.0
3982.3
1804.7
810.6
367.3
342.9
776.6
677.7
1286.2
1003.7
3948.3
1711.8
904.7
375.5
364.3
746.1
698.9
1139.7
961.5
4336.9
1836.6
876.5
347.9
342.6
695.3
623.2
1094.7
940.0
4389.0
1848.0
823.0
350.2
341.0
714.1
655.5
1120.5
949.8
4635.6
1874.5
833.5
cts/lb
cts/lb
cts/lb
cts/lb
224.1
130.6
102.8
110.1
200.5
107.9
67.9
114.7
178.2
106.9
62.4
111.5
179.3
100.6
72.6
111.8
185.4
110.8
66.6
110.9
179.3
120.8
50.1
111.1
183.8
124.7
67.2
117.6
192.9
134.5
59.6
130.7
200.4
139.3
68.3
140.6
$/kg
$/kg
6.6
16.6
5.3
14.1
7.1
11.0
7.3
10.6
7.2
10.7
7.5
11.8
7.9
12.1
7.4
12.1
8.0
12.1
cts/lb
cts/lb
cts/lb
$/MT
$/MT
17.1
24.9
27.4
931.9
782.5
13.2
24.8
25.4
958.7
675.0
18.5
27.0
22.5
1002.4
889.1
17.6
26.4
23.9
993.0
784.7
20.8
27.2
21.8
1023.2
992.5
20.9
28.9
20.7
965.4
1093.1
19.6
29.7
20.6
1029.8
919.6
16.4
28.7
21.0
1063.5
849.4
15.7
28.4
21.5
1083.1
756.8
cts/lb
cts/lb
$/MT
cts/kg
202.8
105.6
3062.8
237.9
160.5
94.2
3135.2
340.4
164.5
94.3
2892.0
287.4
158.5
90.4
3099.9
251.4
173.6
98.5
2987.9
284.7
175.3
106.1
2499.6
323.4
164.3
110.5
2097.4
369.2
155.9
106.2
1961.2
362.1
151.2
101.5
1983.2
371.5
$/M3
$/M3
282.0
897.9
246.0
833.3
274.4
738.9
275.7
782.3
290.7
716.2
272.8
676.8
261.8
674.9
270.3
688.4
265.3
704.5
$/M3
$/M3
cts/lb
174.3
307.3
83.1
162.0
308.7
70.4
156.8
297.1
74.2
143.5
309.2
71.2
151.7
307.6
79.7
163.7
304.7
79.0
162.6
299.8
84.8
160.1
300.4
87.0
160.1
300.4
88.6
cts/kg
cts/kg
cts/lb
cts/lb
1074.4
1034.6
88.8
110.2
1005.8
927.8
70.7
87.7
1112.0
1016.4
74.5
74.1
1092.8
1009.0
75.2
73.5
1140.3
1082.2
76.1
74.2
1191.4
1015.1
87.3
75.9
1371.0
1039.0
115.4
76.5
1405.0
991.1
101.2
75.4
1433.2
1020.0
98.6
69.4
$/MT
$/MT
$/MT
$/MT
$/MT
$/MT
$/MT
$/lb
6863.4
1867.4
97.4
21898.9
16893.4
2161.0
2095.5
33.5
5510.5
1664.7
56.1
16066.6
11862.6
1931.7
1787.8
36.8
4867.9
1604.2
58.6
17933.8
9595.2
2090.0
1866.7
26.3
4736.4
1571.8
56.4
16902.1
8822.5
1916.9
1717.6
27.5
4779.6
1620.2
58.6
18584.3
10263.5
2251.6
1872.7
25.5
5280.8
1710.3
70.8
20810.1
10787.0
2514.2
2138.3
19.6
5840.0
1851.2
85.6
20004.5
10273.1
2779.1
2278.3
23.9
5683.9
1921.2
70.4
19910.3
9609.3
2614.9
2220.6
23.2
5599.6
1913.0
61.6
20200.3
9155.1
2590.2
2125.1
21.6
$/bbl
$/bbl
$/bbl
$/bbl
96.2
98.9
96.7
93.1
50.8
52.4
51.2
48.7
42.8
44.0
41.2
43.2
44.8
46.0
42.9
45.5
44.7
45.8
43.4
44.9
49.1
50.1
47.9
49.2
53.0
54.1
52.9
51.8
52.2
53.1
52.4
51.2
49.9
50.9
50.3
48.6
$/MMBTU
$/MMBTU
$/MMBTU
10.5
17.0
4.4
7.3
11.0
2.6
4.4
7.4
2.5
4.0
6.9
2.1
4.2
7.4
2.8
4.6
7.4
3.0
5.8
7.4
3.0
5.0
5.7
3.1
5.1
5.7
3.1
$/MT
$/MT
75.7
62.7
70.1
55.1
70.7
100.3
87.9
90.1
80.1
Food
Cereals
Wheat
Maize
Rice
Barley
Vegetable oils and protein meals
Soybeans
Soybean meal
Soybean oil
Palm oil
Fish meal
Sunflower Oil
Olive oil
Groundnuts
Rapeseed oil
Meat
Beef
Lamb
Swine Meat
Poultry
Seafood
Fish
Shrimp
Sugar
Free market
United States
EU
Bananas
Oranges
Beverages
Coffee
Other milds
Robusta
Cocoa Beans
Tea
Agricultural raw materials
Timber
Hardwood
Logs 1/
Sawnwood 1/
Softwood
Logs 1/
Sawnwood 1/
Cotton
Wool
Fine
Coarse
Rubber
Hides
Metals
Copper
Aluminum
Iron Ore
Tin
Nickel
Zinc
Lead
Uranium
Energy
Spot Crude 2/
U.K. Brent
Dubai
West Texas Intermediate
Natural Gas
Russian in Germany
Indonesian in Japan (LNG)
US, domestic market
Coal
Australian, export markets
South African, export markets
1/ Provisional.
2/ Average Petroleum Spot Price (APSP). Average of U.K. Brent, Dubai, and West Texas Intermediate, equally weighted.
Table 6.
Specifications for Commodity prices
World
Export
Weights
Commodities
Non-fuel commodities
2002-2004
Price Specifications
Unit
100.0
Edibles
50.3
Food
45.3
Cereals
9.7
Wheat
4.5
U.S. No. 1 hard red winter, ordinary protein, Kansas City
(USDA, Grain and Feed Market News, Washington, DC).
$/Mt
Maize
2.8
U.S. No. 2 yellow, prompt shipment, FOB Gulf of Mexico ports (USDA,
Grain and Feed Market News, Washington, D.C.). 1/
$/Mt
Rice
1.7
Thai, white milled, 5 percent broken, nominal price quotes, FOB Bangkok
(USDA, Rice Market News, Little Rock, Arkansas). 2/
$/Mt
Barley
0.7
Through May 2012: Canadian No. 1 Western Barley, spot price (Winnipeg
Commodity Exchange). From June 2012 onwards: U.S. No. 2 feed barley,
Minneapolis delivery spot price (USDA) 1/
$/Mt
Vegetable oils/protein meals
12.0
Soybeans
3.3
Soybean futures contract (first contract forward) No. 2 yellow and par
Chicago Board of Trade 1/
$/Mt
Soybean meal
2.3
Soybean Meal Futures (first contract forward) Minimum 48 percent protein
Chicago Board of Trade 1/
$/Mt
Soybean oil
1.2
Soybean Oil Futures (first contract forward) exchange approved grades
Chicago Board of Trade 1/
$/Mt
Palm oil
1.9
Palm Oil Futures (first contract forward) 4-5 percent FFA
$/Mt
Bursa Malaysian Derivatives Berhad 1/
Sunflower/Safflower Oil
0.5
Olive Oil
0.8
Sunflower Oil, crude, US export price from Gulf of Mexico (DataStream)
$/Mt
United Kingdom ex-tanker prices, extra virgin olive oil, 1%> ffa (free
$/Mt
fatty acid) (DataStream). From December 2011 onwards: Olive Oil Eu / Extra
Virgin, Italy CIF (Cost, Insurance, Freight) (Bloomberg) 1/
Fishmeal
0.5
Peru Fish meal/pellets 65% protein, CIF (DataStream) 1/
$/Mt
Groundnuts
0.6
40/50 (40 to 50 count per ounce), cif Argentina (DataStream)
$/Mt
Rapeseed Oil
0.9
Crude, fob Rotterdam 1/ (DataStream)
$/Mt
Australian and New Zealand, frozen boneless, 85 percent visible lean
Cts/lb
Meat
Beef
10.1
3.9
cow meat, U.S. import price FOB port of entry.
Lamb
0.7
New Zealand, PL, frozen, wholesale price at Smithfield Market, London
Cts/lb
(National Business Review, Auckland, New Zealand).
Swine Meat
3.1
51-52% (.8 - .99 inches of backfat at measuring point) lean Hogs, USDA
Cts/lb
average base cost price of back fat measured at the tenth rib (USDA).
Poultry
2.4
Georgia docks, ready to eat whole body chicken, packed in ice, spot price (USDA)
Cts/lb
Seafood
8.6
Fish
6.9
Fresh Norwegian Salmon, farm bred, export price (NorStat).
US$/kg
Shrimp
1.8
Mexican, west coast, white, No. 1, shell-on, headless, 26 to 30 count
per pound, wholesale price at New York.
US$/kg
Sugar
Free market
2.4
1.6
CSCE contract No. 11, nearest future position
Cts/lb
(Coffee, Sugar and Cocoa Exchange, New York Board of Trade).
United States
0.1
CSCE contract No. 14, nearest future position
Cts/lb
(Coffee, Sugar and Cocoa Exchange, New York Board of Trade).
EU
0.6
EU import price, unpacked sugar, CIF European ports. Negotiated
Cts/lb
price for sugar from ACP countries to EU under the Sugar Protocol.
(EU Office in Washington D.C.). 1/
Bananas
1.1
Central American and Ecuador, first class quality tropical pack, Chiquita,
$/Mt
Dole and Del Monte, U.S. importer's price FOB U.S. ports (Sopisco News,
Guayaquil).
Oranges
1.3
Miscellaneous Oranges, French import price (FruiTROP and World Bank).
$/Mt
Beverages
4.9
Coffee
2.3
Other milds
1.5
International Coffee Organization, Other Mild Arabicas New York cash price.
Cts/lb
Average of El Salvador central standard, Guatemala prime washed
and Mexico prime washed, prompt shipment, ex-dock New York 1/
Robusta
0.9
International Coffee Organization, Robustas New York cash price.
Cote d'Ivoire Grade II and Uganda standard, prompt shipment, ex-dock New
York. Prior to July 1982, arithmetic average of Angolan Ambriz 2 AA
Cts/lb
and Ugandan Native Standard, ex-dock New York. 1/
Cocoa beans
1.8
International Cocoa Organization cash price. Average of the three nearest
active futures trading months in the New York Cocoa Exchange at noon
$/Mt
and the London Terminal market at closing time, CIF U.S. and European ports
(The Financial Times, London). 1/
Tea
Industrial Inputs
Agricultural Raw Materials
Timber
Hardwood
Logs
0.8
Mombasa auction price for best PF1, Kenyan Tea.
Replaces London auction price beginning July 1998.
Cts/Kg
49.7
20.9
9.1
3.2
1.0
Malaysian, meranti, Sarawak best quality, sale price charged by importers,
Japan (World Bank, Washington, D.C.). From January 1988 to
February 1993, average of Sabah and Sarawak in Tokyo weighted by
$/Cm
their respective import volumes in Japan. From February 1993 to present,
Sarawak only. 3/
Sawnwood
2.3
Malaysian sawnwood, dark red meranti, select and better quality, standard
$/Cm
density, C&F U.K. Port (Tropical Timbers, Surrey, England). 3/
Softwood
Logs
5.9
1.0
Oregon Logs: (free alongside ship (FAS) Value)/(First Unit of Quantity) by FAS Value for U.S. domestic
$/Cm
exports, exported through Oregon ports 3/
Lumber
4.9
Oregon Lumber: (free alongside ship (FAS) Value)/(First Unit of Quantity) by FAS Value for U.S.
$/Cm
domestic exports, exported through Oregon ports 3/
Cotton
1.8
Middling 1-3/32 inch staple, Liverpool Index "A", average of the cheapest
five of fourteen styles, CIF Liverpool (Cotton Outlook, Liverpool). From
January 1968 to May 1981 strict middling 1-1/16 inch staple. Prior to
Cts/lb
1968, Mexican 1-1/16. 2/
Wool
Fine
1.3
0.6
19 micron (AWEX, Australian Wool Exchange)
Cts/Kg
Sidney, Australia
Coarse
0.7
23 micron (AWEX, Australian Wool Exchange)
Cts/Kg
Sidney, Australia
Rubber
1.5
Singapore Commodity Exchange, No. 1 Rubber Smoked Sheets, 1st contract
Cts/lb
(Bloomberg, R01 Comdty)
Hides
7.1
U.S., Chicago packer's heavy native steers, over 53 lbs.,wholesale dealer's price,
(formerly over 58 lbs.), FOB shipping point (Wall Street Journal, New York).
Prior to November 1985, U.S. Bureau of Labor Statistics, Washington, D. C. 1/
Cts/lb
Metals
Copper
28.9
7.7
London Metal Exchange, grade A cathodes, spot price, CIF European
$/Mt
ports (Wall Street Journal, New York and Metals Week, New York).
Prior to July 1986, higher grade, wirebars, or cathodes. 1/
Aluminum
10.5
London Metal Exchange, standard grade, spot price, minimum purity
$/Mt
99.5 percent, CIF U.K. ports (Wall Street Journal, New York and
Metals Week, New York). Prior to 1979, U.K. producer price, minimum purity
99 percent. 1/
Iron ore
3.6
Tin
0.4
China import Iron Ore Fines 62 percent FE spot (CFR Tianjin port)
$/Mt
London Metal Exchange, standard grade, spot price, CIF European ports (Wall
$/Mt
Street Journal, New York, New York). From Dec. 1985 to June 1989
Malaysian, straits, minimum 99.85 percent purity, Kuala Lumpur Tin Market
settlement price. Prior to November 1985, London Metal Exchange
(Wall Street Journal, New York and Metals Week, New York). 1/
Nickel
3.0
London Metal Exchange, melting grade, spot price, CIF Northern European
$/Mt
ports (Wall Street Journal, New York and Metals Week, New York). Prior
to 1980 INCO, melting grade, CIF Far East and American ports (Metal
Bulletin, London). 1/
Zinc
1.7
London Metal Exchange, high grade 98 percent pure, spot price, CIF U.K.
$/Mt
ports (Wall Street Journal and Metals Weeek, New York). Prior
to January 1987, standard grade. 1/
Lead
0.6
London Metal Exchange, 99.97 percent pure, spot price, CIF European ports
$/Mt
(Wall Street Journal, New York and Metals Week, New York). 1/
Uranium
Energy
Spot crude Petroleum
1.4
Metal Bulletin Nuexco Exchange Uranium (U3O8 restricted) price.
$/lb
Average of U.K. Brent (light), Dubai (medium), and West Texas Intermediate
$/bbl
100.0
85.0
(heavy), equally weighted. 1/
U.K. Brent
28.3
U.K. light, Brent Blend 38o API, spot price, FOB U.K. ports (International
$/bbl
Petroleum Exchanged, London). Prior to 1984, North African Light 37/44o API
(Petroleum Intelligence Weekly, New York). Prior to 1974, Libyan Brega
40o API, posted price, ex Marsa El Brega (Platt's Oil Price Handbook
and Almanac, New York). Prior to 1961, Qatar Um Said 39o API, posted
price, FOB (Platt's Oil Price Handbook and Almanac, New York). 1/
Dubai Fateh
28.3
Dubai, medium, Fateh 32o API, spot price, FOB Dubai. (International
$/bbl
Petroleum Exchange, London). Prior to 1984, Middle East Light 34o API, spot price,
(Petroleum Intelligence Weekly, New York). Prior to 1974, Saudi Arabian
Light 34o API, posted price, ex Ras Tanura (Platt's Oil Price Handbook
and Almanac, New York). 1/
West Texas Intermediate
28.3
U.S., West Texas Intermediate 40o API, spot price, FOB Midland Texas
$/bbl
(New York Mercantile Exchange, New York). In 1983-1984
(Platt's Oilgram Price Report, New York). 1/
Natural Gas
Russian Border Price
11.7
5.1
Natural Gas, EU (TTF from Jan 2017, Russian Natural Gas border price in Germany before),
$/MMBTU
US$ per Million Metric British Thermal Unit
Henry Hub
3.0
Indonesian
3.0
Natural Gas Spot Price, Henry Hub, Lousiana.
$/MMBTU
Natural Gas, East Asia (Argus Northeast Asia LNG from Jan 2017, Indonesian Liquefied Natural Gas
$/MMBTU
in Japan), US$ per Million Metric British Thermal Unit
Coal
4.0
Australian Coal
1/ Average of daily quotations.
2/ Average of weekly quotations.
3/ Monthly quotations.
Coal, Australian thermal coal, 12,000- btu/pound, (Converted from Argus Newcastle 6000kcal/kg
NAR fob), US$ per metric ton
$/Mt