DBT Bureau
Pune, 19 May 2026
Below are details for global commodities, highlighting key developments across precious metals, crude oil, industrial metals, and energy markets. Copper remained in focus as supply concerns intensified following lower production from major Chilean mines, while geopolitical tensions, inflation worries, and shifting monetary policy expectations continued to influence broader commodity trends.
- Precious metals rebounded today after falling to a more-than-six-week low, pressured earlier by inflation concerns that sparked a sell-off in global bond markets. These inflation worries intensified as oil prices climbed to a twoweek high following a drone strike that ignited a fire at a nuclear power facility in the UAE.
- Additionally, the U.S. Senate’s approval of Kevin Warsh as Federal Reserve Chair introduced uncertainty about the future policy direction. Meanwhile, markets are increasingly pricing in a Fed’s rate hike before the end of 2026.
- U.S. President Donald Trump and China’s Xi Jinping agreed in Beijing on the need to keep the Strait of Hormuz open, underscoring shared concerns over disruptions to global energy supplies. However, their talks highlighted ongoing tensions as progress toward resolving the Iran conflict remains stalled.
- India has raised import tariffs on gold and silver to 15% from 6%, as part of efforts to curb overseas purchases of the metals and ease pressure on the country’s foreign exchange reserves.
- International Energy Agency said that the global oil supply is expected to fall short of demand this year, as the Iran conflict disrupts Middle East production and tightens market balances.
- Crude oil prices continued to rise on Monday, amid dimming hopes for peace in the Middle East following an attack on a nuclear power facility in the United Arab Emirates.
- Russia’s crude oil production declined by 460,000 barrels per day in April from the same month a year ago to around 8.8 million bpd.
- Copper output at Chile’s state owned Codelco declined 9.98% yoy in March to 110,900 tonnes. Production at Escondida, the world’s largest copper mine, dropped 15.75% to 101,600 tonnes, while Collahuasi, operated by Glencore and Anglo American, saw output fall 10.80% to 31,400 tonnes.
- China’s aluminium output remained strong in April, supported by strong margins. The country’s aluminium production rose by 3.1% from a year earlier to 3.87 million metric tonnes in April. In the first four months of the year, China produced 15.33 million metric tonnes, a rise of 3.5% from the same period last year.
Source: Geojit Investments Limited
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