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Economics

Commodities Update September 2026

September 16 2026 7 mins

Most commodities rose in August, with our broadest commodities index increasing 4.5%mth as the geopolitical risk premium reasserted itself. LNG led gains, rising 15.9%mth, while gold increased 8.4%mth, copper 5.5%mth, Brent 5.0%mth and aluminium 3.1%mth. In contrast, steelmaking commodities weighed on the headline index, with iron ore falling 2.0%mth and Queensland premium low-vol coking coal declining 3.3%mth, while lithium (spodumene) fell 4.7%mth.

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