The ICDX tin price strengthened by 2.39% approaching the January close supported by the depreciating dollar and China's policy support to reopen borders and Covid-19 restrictions.

Starting the year of 2023, the price of the ICDX crude oil contract was observed to have weakened by 8.45% to a price level below $80 per barrel. China's decision to lift Covid restrictions in full on January 8, was met with opposition from various countries such as the European Union (EU), the US, France, Italy, Qatar, Japan and South Korea, by requiring pre-departure Covid tests for tourists from China. This sparked concern that it would impact travel activities from China to other countries.

Price movements of CPOTR increased by 8.09% in a week to the level of IDR 14,295/Kg. The driving sentiment is partly due to hopes of recovering Chinese demand due to the opening of regions and the B35 Biodiesel program.

ICDX gold price strengthened by 0.59% compared to the previous week supported by the depreciation of the dollar index following various United States (US) economic data released which were pessimistic.

The ICDX tin price strengthened towards the close of October and was observed moving in the range of $25,900 per ton as the easing of the zero Covid policy triggered an increase in tin prices.

The price of the ICDX oil contract during the week was fallen more than 7 percent for the closing week ending 9 December. The sentiment driving the decline is the uncertainty over the effect on global oil markets cause by the European Union (EU) embargo on Russia and the EU and G7 restrictions on Russian oil prices.

Price movements for CPOTR increased by 12% in a week to a level of IDR 13,450/Kg. The strengthening that occurred in CPO was supported by expectations of an easing of strict Covid-19 controls in China, which is the world's main CPO importing country. China, as a country implementing the Zero Covid policy, has put pressure on demand for a number of key commodities, including CPO, as has happened in recent weeks, causing a decline in CPO prices.

ICDX gold price strengthened by 0.86% compared to the previous week supported by the weakening performance of the dollar index in line with pessimistic US economic data and the minutes of the FOMC meeting fueled expectations of a smaller interest rate increase. Also supporting the performance of gold is the geopolitical development of Russia - Ukraine.