Commodity prices, as measured by our Materials Price Index (MPI), trended roughly sideways last week, gaining just 0.3%. Six of the MPI's ten subcomponents fell as questions around the US election, China's ability to maintain demand and fresh lockdowns in Europe created uncertainty and undercut markets. {chart} Rubber was an important exception in a generally downbeat week, with prices jumping another 18.0%. Since the end of September prices are up almost 40%. A litany of issues are impacting rubber, which include supply disruptions from COVID-19 related labour shortages in South East Asia, flooding and political ... (full story)