ING'S 2023 Commodities Outlook

ING's 2023 Commodities Outlook highlights that the year 2022 was a remarkable one for the commodity markets. The supply risks resulted in heightened volatility and prices, however, as the year drew to a close, demand concerns became the primary driver. As we move into 2023, the outlook remains uncertain, with a high likelihood of ongoing volatility. The report suggests that this trend is likely to continue, with a number of factors contributing to the volatility, including geopolitical risks, supply chain disruptions, and changes in market dynamics. The report also highlights the importance of closely monitoring the developments in the global economy, particularly with regards to the energy markets and the impact that this will have on the wider commodity landscape. With a number of factors at play, it is likely that 2023 will be another challenging year for commodity markets.