The war escalation in tensions between Ukraine and Russia also affected raw materials such as wheat, a high value input for food and metals, of which these two countries play a crucial role in world supply.
(Russian invasion of Ukraine shakes global markets).
Thus, according to the AFP agency, this Thursday, the price of cereals broke a record for operations in Europe and wheat rose to a maximum of 344 euros per tonne on the Euronext platform.
The price of wheat and corn climbed strongly at the opening, just hours after Russia launched the invasion against Kiev.
According to Bloomberg, the futures of the corn in the US for May they reached US$685.25 per bushel, a 5% increase; While wheat reached US$932.75an increase of 5.42% compared to the previous session.
(What is the Swift, the system that could stop Russia).
Soybean oil closed at US$71.35, up 1.80%.
The Russian authorities prohibit navigation in the Sea of Azov, the export ports are closed and Odessa was bombed, that means that Ukrainian cereals cannot leave the country, “explains Philippe Chalmin, coordinating economist of the annual Cyclope guide. of the world market for raw materials.
The aluminumother raw materials in which Russia leads production, reached a record price of US$3,394.50 per ton this Thursday.
(World markets experienced a black Thursday due to Russia’s offensive).
This same upward trend was reflected in other assets such as nickel, where Russia is the third largest player, grew by 1.35% to US$24,725 per ton due to the crisis, its highest increase since May 2011. Zinc, due to its part, also picks up 2.59%.
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