iPath Bloomberg Cocoa Subindex Total Return(SM) ETN Price & Performance (NIB)

Oil prices managed slight gains even after OPEC reduced its forecast for demand growth. The market appears to be weighing the impact of ongoing tariff discussions and global trade uncertainties. This resilience suggests traders are prioritizing policy signals over traditional supply-demand metrics.1

China's preliminary trade figures for March reveal a 1.4% year-over-year drop in unwrought copper imports and a staggering 40% month-over-month decline in soybean imports. These reductions highlight the effects of tariffs and logistical issues, reshaping global commodity flows and raising concerns about broader economic momentum.1

Persistent downside risks remain for global commodities as shifting trade policies, currency fluctuations, and geopolitical developments unsettle markets. Analysts caution that unresolved macroeconomic pressures could prolong volatility, challenging both producers and investors in the months ahead.2