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4. Metallic charges have risen previously mentioned pre-pandemic ranges as global industrial action recovered, led by China
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Oil costs are expected to stay close to latest levels into next 12 months, remaining very well under pre-pandemic benchmarks. In contrast, steel and agricultural commodities have recouped their losses through the COVID-19 pandemic and therefore are expected to create modest gains in 2021.
The pandemic has had the biggest impact on Vitality charges. After plunging in March and April, Electricity charges have witnessed a partial Restoration, pushed by crude oil costs. However, the Restoration has stalled just lately amid concerns about renewed COVID-19 bacterial infections and their impact on oil consumption.
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