Yaoundé - 09 December 2023 -

Cemac: export prices for ores and metals are up 2%, despite a fall in gold and aluminum prices

Cemac: export prices for ores and metals are up 2%, despite a fall in gold and aluminum prices
  • Comments   -   Friday, 03 November 2023 18:02

(Business in Cameroon) - World prices for ores and metals exported by the Cemac countries in Q3 2023 rose by 2% quarter-on-quarter. According to the Composite Commodity Price Index (CCPI) published by the Bank of Central African States (Beac), this upturn comes after a 2% decline in prices in Q2.

"This positive variation is mainly attributed to higher prices on the iron (+2.9% compared with -11.2% last quarter) and manganese (+2.1% after -2.1% in Q2 2023) markets. On the other hand, prices fell on the aluminum (-2.5% after -5.8% in Q2 2023) and gold (-2.5% after +4.8% in Q2 2023) markets", explains the central bank's document.

The minerals whose prices have fallen over the period under review are mainly produced in Cameroon. In the case of gold, affected companies include those operating in the East and Adamaoua regions, and for aluminum, the affected company is the Cameroonian Aluminum Corporation (Alucam), the only operator of its kind in the Cemac zone.

As a reminder, the ICCPB is based on the prices of 20 commodities exported by Cemac countries, representing 90% of the value of their exports. The analysis focuses on five main categories: energy products, metals and minerals, forest products, agricultural products, and fishery products.

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