ICDX tin prices weakened -2.48% compared to the previous week due to signals that China's economy is slowing down and triggering concerns will have an impact on global economic recovery as well as affect demand for tin and make tin's performance weaken.

Oil prices throughout the week ending February 2 closed bearish or fell by 6 percent, one of the main triggers was the negative signals ahead of the regular OPEC+ meeting on February 1 which led to a split within the alliance. Apart from that, the results of the OPEC+ meeting did not decide on new production figures, but preferred to wait until next March regarding changes of the current production policy.

CPOTR price movements increased within a week to IDR 13,055/Kg, triggered by increasing demand for biodiesel and India's move to extend import duties on vegetable oils at low rates until 2025.

ICDX gold prices weakened at 1.19% compared to the previous week with the focus on strong Chinese economic data while the market was also waiting for a decision on interest rates, whether the Fed maintained interest rates or started lowering interest rates.

ICDX tin prices weakened 0.40% compared to the previous week due to the release of mixed data from weakening China as the world's largest tin consumer.

ICDX oil contract prices closed higher at $73.92 per barrel for the week ending January 5th. The increase in oil prices is attributed to the escalating conflict between Israel and Hamas. The closure of oil fields in Libya also contributed to the rise in oil prices this week.

CPOTR price movements experienced an increase in the week to IDR 11,860/Kg, triggered by strengthening oil prices due to competition for a share in the global vegetable oil market as well as continued concerns about the El Nino phenomenon until the first half of 2024 in the Asian region which might endanger rice supplies. wheat, palm oil and other agricultural products in some of the world's major agricultural exporters and importers.

ICDX gold prices strengthened at 1.28% compared to the previous week with the focus on weak American economic data making gold prices strengthen. In contrast to China's economic data which makes gold strengthen.