The global commodity prices are the concerns of many organizations in the United Kingdom. A slight increase or decrease in price affects many businesses throughout the country. So here is a prediction of pries for the most consumed commodities.Oil Oil is probably one of the most important raw materials for many industrial plants. It is predicted that oil prices could rise by $20 in 2013. The average price last year was around $105, but this will increase to $125 in this year. The main reason behind this is that many debt issues have sprung up in Europe, and global tensions are being created on oil supplies. If oil production in 2013 will continue at the current rate, the demand will be more than the supply by the end of the year. Hence, the production must be increased, and so will the rates. Natural Gas
While the production of oil may face demand and supply problems, the reverse is true for natural gas. Natural gas may not be produced in such a high quantity, but it will still be oversupplied in the market. This is because natural gas has already been stored in huge quantities last year, and these inventories will affect prices in 2013. The expected average price is $3.95 per million BTUs. However, prices are likely to change at the end of the year when the inventories become exhausted. Aluminium
The average price of aluminium last year was $2,300 per ton and this year it will rise to about $2,400 per ton. Aluminium is already present in large quantities but some of the producers may decrease their capacity. This is because the marginal costs of aluminium are high, and so producers have increased the selling price so that they can earn revenue. Copper
The prices of copper will continue to soar in 2013 because difficulties are faced on the supply side. No downfall in rates can be expected until the global supply of copper is replenished. Replenishment in supplies will probably happen after 2014, so there are still some years before prices are expected to decrease.
It is estimated that the average price of copper in 2013 will be around $9,000 per ton. Nickel
The nickel prices are greatly dependent on the steel production in China and on the success of a few ongoing projects. The steel production and export in China is at a risk because industrial production is suffering a decline these days. Moreover, there are some major projects going on in Brazil, which are related to nickel production. If the projects succeed, the prices may go down; otherwise, they will just rise all the more.
The uncertainties in nickel production make it difficult to predict the average prices, and there are bound to be errors. Still for now, nickel will be sold at around $20,000 to $22,000. Zinc
The production of zinc is going through a setback because the inventories are already overfilled with the metal. It will take many a months for the demand to rise, and so supplies have been shortened. The average price is expected to be $2,200 per ton. Cotton
The average price of cotton will be $0.80 per pound. This is somewhat less than last year because India is now exporting the material at lower prices.
Author’s Bio : Diyana Lobo has a finance degree, and makes very accurate predictions for the stock markets, the global commodity prices and other related issues.