Only recorded one daily correction during the past week, the crude palm oil (CPOTR) contract finally closed the week with a weekly increase of 4.80% to the level of Rp 17,045,- per kg. The increase occurred amid a surge in demand for basic commodities such as oil, gas, and coal following expectations of a global economic recovery – which combined with other CPO fundamental factors, to form a strong price foundation.

The gold contract GOLDUD closed last week's fluctuations with a slight gain of 0.68% to $1,760.20 per Troy Ounce. Gold previously started the week still under pressure after absorbing sentiment from the results of the Fed's meeting the previous week, but the losses were overcome – with the main focus still steering from the US.

Towards the end of September, the ICDX tin price was observed to reach a new record, breaking a level above $37,000 per metric ton, or up nearly 60% compared to the tin price at the beginning of 2021. The decline in global tin stocks became the main catalyst that boosted the price increase.

The COFR crude oil contract closed last week with a gain of 3.24% to the level of Rp 1,016,200 per barrel. During the week, oil was "pampered" with a series of positive issues that overall provided optimism in terms of supply and demand levels. Starting from optimistic demand projections, the threat of disruption to production activities, to reports of depleted US stock levels, are the main fuel for price strengthening.

As the world's largest tin exporter, Indonesia has continued to record the highest tin price since early 2021. Find out more about the Indonesian tin market and other leading commodities in THE SOURCE ISSUE 19.

After undergoing a fluctuating trend, finally the crude palm oil (CPOTR) contract ended last week with a slight weekly appreciation of 0.58% to the level of Rp 15,630, - per kg. In detail, after having strengthened for three days in a row, CPO then reversed to collapse in the last two days of the week. Sentiment related to the balance of supply and demand is still the latest focus of overall prices. Meanwhile, behind that, there is also a psychological factor in which a fairly sharp increase in CPO prices makes CPO prices vulnerable to correction.

The gold contract GOLDUD closed last week's fluctuations with a slight gain of 0.54% to $1,818.40 per Troy Ounce. The movement of gold prices looks to pay attention to the release of a number of key US data, and is closed by the focus that digests some of the expectations of directions from central bank officials delivered at the Jackson Hole Symposium since the start of last week.

The trend of tin prices on ICDX began to move steadily with a downward trend entering the fourth week of August, however, if compared on a monthly basis, the average price of tin during August traded on ICDX was in the range of USD 35,640 per tonne or 4 percent higher than the average price in July. The highest price of tin on ICDX in August reached USD 36,615 per tonne and the lowest level touched USD 34,870 per ton.