Accessing Commodity Spot Prices

Benefits of Analyzing Commodity Spot Prices

Enhanced Decision-Making Accuracy
Using the latest spot prices allows commodity market players to make more informed and precise decisions. Market participants can understand the current state of the market with prices paid in the current market environment. This real-time pricing information ensures all market participants optimise their cost structures and profit margins.

Market Transparency and Competitive Advantage
Real-time spot prices promote transparency, allowing all market participants to compare prices and negotiate better deals. This transparency fosters a competitive environment, enabling buyers to secure better deals, sellers to attract more buyers, and traders to identify and exploit arbitrage opportunities. By leveraging the latest spot prices, market players can respond quickly to market changes, enhancing their competitive positioning and maximising profits.

Finding today’s commodity prices: step-by-step

1. Selecting your commodity for spot pricing

In your prices widget, click on the product dropdown. Select the commodity of your choice and the country or source for which you want to see current commodity prices.

In the example, we are now showing the most current prices for butter in the Netherlands. Hover over the chart to see details about the real-time prices of your selected commodities:

2. Different Ways to Analyze the Spot Prices

You can set up the prices widget with your product list. On the right-hand side, you get a quick overview of your product list, with the latest spot prices, and the percentage change per:

• WOW (Week Over Week)
• MOM (Month Over Month)
• YOY (Year Over Year)

In the right-hand graph, you can analyze trend lines and change the graph view by:

• 3 months
• 6 months
• 1 year
• 3 years
• 5 years
• 10 years

If available, you can toggle on the monthly average view, which only plots one point per month, representing the average.

Procurement Manager

A Procurement Manager can optimise purchase timing by analysing spot prices to buy when prices are low, reducing costs and improving budget management. With up-to-date spot price information, you can negotiate better terms with suppliers, securing cost savings and more favourable contract conditions.

Sales Manager

A Sales Manager can use spot price data to set competitive yet profitable pricing for products, ensuring the company remains competitive while maximising profit margins. Understanding current spot prices allows them to position products more effectively in the market, highlighting cost-effectiveness compared to competitors.

Market Analyst

A Market Analyst can track and analyse historical spot price data to identify market trends and predict future price movements, providing strategic insights for decision-making and long-term planning. Evaluating spot price volatility helps assess the risks associated with commodity purchasing, facilitating the development of risk mitigation strategies.