Scotiabank: A Spring Rally in Commodity Prices is Underway
*Scotiabank Press Release* Scotiabank’s Commodity Price Index increased by 1.7% month-over-month (m/m) in April and will likely advance further in May alongside a rebound in oil and stronger base metal prices. Nevertheless, the All Items Index remains 29.7% below a year earlier. “A seasonal pick-up in industrial activity across the G7 and China and the recent pull-back in the U.S.