Industrial commodities recover from recent lows as lockdown eases

Prices surge 3.5-12% from recent lows about a month ago with silver futures topping recovery chart among metals; crude futures for near-month delivery surged by as much as 41.7%

Commodity prices fell sharply in early trading on fears of a second wave of covid-19 spread, only to recover on hopes of another stimulus coming. In morning trade today, base metals, bullion and energy futures started with a sharp decline of up to 4 per cent on the MCX but recovered later in the day amid high volatility.

Most prices have improved smartly over the past month, with those of industrial commodities jumping by 3.5-12 per cent from their recent lows about a month ago. The upsurge was driven by hopes of a revival in demand with the gradual opening up