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Goods prices decline amid Hormuz risks
HSBC Bank has confirmed that prices of essential commodities and raw materials are under intense pressure, with the situation expected to worsen if the Strait of Hormuz remains closed due to geopolitical tensions. The report indicated that ongoing closures are leading to a decline in global inventories, increasing the likelihood of reaching critical turning points in some markets and making the timing of a price breakthrough more difficult to predict. Nonetheless, forecasts suggest that demand for metals like copper and aluminum will rise, amid increasing prices—copper reaching $13,976 per ton and aluminum hitting its highest level in four years.
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