Risk of fluctuations in commodity prices and resource market conditions
First written in FY2016. 8 of 35 entries say "Worsened", first in FY2017-Q1. Latest entry: FY2026.
Marubeni moved to the "Worse" side of this theme in 2019, 2 years after the typical company in this theme (2017).
The whole theme swung hardest in 2022: 4 of 7 companies on the "Worse" side.
0 other companies' latest entry also says "Other".
- FY2026Year-end resource exposure and price sensitivity updateAnnual report
「The exposure to resource interests from investments as of the end of the consolidated fiscal year was as follows by commodity.」
Resource interest exposure was updated to approximately ¥590.0 billion in copper, ¥190.0 billion in iron ore, ¥150.0 billion in coking coal, ¥70.0 billion in crude oil and gas, and ¥50.0 billion in LNG, for a total of approximately ¥1.05 trillion. Profit sensitivities to crude oil and copper prices were also disclosed. - FY2026-H1Update on primary commodity market trends for the interim periodAnnual report
「Primary commodity prices remained generally at lower levels than in the previous fiscal year due to continued weak demand resulting from the global economic slowdown. Meanwhile, copper prices rose amid increased demand for copper ore in China and declining copper mine production.」
The disclosure stated that crude oil, coal and other commodities remained at lower levels than in the previous fiscal year, while copper prices rose against a backdrop of increased demand and lower mine production. - FY2025Year-end resource exposure and price sensitivity updateAnnual report
「The exposure to resource interests from investments as of the end of the consolidated fiscal year was as follows by commodity.」
Resource interest exposure was disclosed as approximately ¥460.0 billion in copper, ¥170.0 billion in iron ore, ¥100.0 billion in coking coal, ¥90.0 billion in crude oil and gas, and ¥50.0 billion in LNG, for a total of approximately ¥870.0 billion. The disclosure also indicated that a US$1 change in crude oil prices would affect annual profit for the year by approximately ¥400 million, while a US$100 change in copper prices would affect it by approximately ¥1.4 billion. - FY2025-H1Update on primary commodity market trends for the interim periodAnnual report
「Although weak demand continued overall due to the global economic slowdown, rising geopolitical risks and other factors pushed up the prices of some commodities. Copper prices fluctuated amid uncertainty over the outlook for the Chinese economy but generally remained higher than in the previous fiscal year.」
The disclosure stated that although weak demand continued, geopolitical risks pushed up the prices of some commodities, while copper prices remained higher than in the previous fiscal year despite fluctuations. - FY2024Update on annual primary commodity market trendsAnnual report
「Primary commodity prices generally remained at lower levels than in the previous fiscal year, weighed down by declining demand associated with the global economic slowdown. Crude oil prices declined from the previous fiscal year but turned upward from the beginning of the year amid production cuts by oil-producing countries and heightened tensions in the Middle East.」
While primary commodity prices generally remained at lower levels, crude oil prices turned upward from the beginning of the year due to production cuts by oil-producing countries and heightened tensions in the Middle East, while copper and iron ore remained generally around the previous year's levels due to supply concerns. - FY2024-Q3Update on primary commodity market trendsAnnual report
「Primary commodity prices generally remained at lower levels than in the previous fiscal year, weighed down by declining demand associated with the global economic slowdown. Crude oil prices remained weak even amid heightened tensions in the Middle East. Prices of copper and iron ore, for which China is the world's largest importer, were weighed down by a slowdown in the pace of China's economic recovery but remained generally around the previous fiscal year's levels due in part to supply concerns.」
Primary commodity prices generally remained at lower levels than the previous year, and crude oil prices continued to be weak despite heightened tensions in the Middle East. Copper and iron ore were weighed down by a slowdown in China's economic recovery but remained generally around the previous year's levels due to supply concerns. - FY2024-Q2Update on primary commodity market trendsAnnual report
「Although many primary commodities remained at low levels compared with the previous fiscal year due to declining demand associated with growing concerns about a global economic slowdown, crude oil prices rose from July onward, partly due to OPEC+ production cuts. Prices of copper and iron ore, for which China is the world's largest importer, declined amid a slowdown in the pace of China's economic recovery.」
The disclosure stated that many commodities remained at lower levels than the previous year, while crude oil prices rose from July onward and copper and iron ore prices declined against a backdrop of a slowdown in the pace of China's economic recovery. - FY2024-Q1WorsenedAnnual report
「Many primary commodities remained weak amid declining demand associated with growing concerns about a global economic slowdown. OPEC+ production cuts and other factors provided support for crude oil prices, but they generally continued to trend downward. Prices of copper and iron ore, for which China is the world's largest importer, declined amid a slowdown in the pace of China's economic recovery.」
Primary commodity markets, including crude oil, copper and iron ore, entered a downtrend against a backdrop of concerns about a global economic slowdown and a slowdown in the pace of China's economic recovery. - FY2023-Q3Update on primary commodity market trendsAnnual report
「Many primary commodities, particularly energy and food, remained at high levels compared with the previous year. Crude oil prices continued to rise through around June before declining as concerns about slowing demand associated with a global economic slowdown came to the fore. Prices of copper and iron ore, for which China is the world's largest importer, also remained weak amid concerns about an economic slowdown in China.」
While energy and food prices remained at high levels, crude oil prices declined around June, and copper and iron ore also weakened amid concerns about an economic slowdown in China. Copper and iron ore subsequently entered an uptrend from November. - FY2023-Q2Update on primary commodity market trendsAnnual report
「Many primary commodities, particularly energy and food, remained at high levels compared with the previous year. Crude oil prices continued to rise through around June before declining as concerns about slowing demand associated with a global economic slowdown came to the fore. Prices of copper and iron ore, for which China is the world's largest importer, also remained weak amid concerns about an economic slowdown in China.」
While energy and food prices remained at high levels, crude oil prices declined around June, and copper and iron ore also weakened amid concerns about an economic slowdown in China. - FY2023-Q1Update on primary commodity market trendsAnnual report
「Primary commodity prices, including crude oil, remained at historically high levels overall due to tight supply and demand and the escalation of the Russia-Ukraine situation. Crude oil prices generally continued to trend upward. Meanwhile, prices of copper and iron ore, for which China is the world's largest importer, remained weak amid concerns about an economic slowdown in China.」
While prices of many commodities, including crude oil, remained at historically high levels, copper and iron ore were weak amid concerns about an economic slowdown in China, updating the market trends by commodity. - FY2022WorsenedAnnual report
「Against a backdrop of tightening supply and demand, many commodity prices surged following the escalation of the Russia-Ukraine situation. In March, WTI crude oil rose to its highest level since 2008, while copper, coking coal and aluminum reached record highs.」
Following the escalation of the Russia-Ukraine situation, prices of crude oil, copper, coking coal, aluminum and other commodities surged, and the description of market volatility shifted in a negative direction. - FY2022-Q3Update on primary commodity market trendsAnnual report
「WTI crude oil reached its highest price since 2014 in July and October, and primary commodity prices generally remained at high levels. Copper and iron ore, for which China is the world's largest importer, reached record highs in the first half. Iron ore then plunged following the Chinese government's measures to curb steel production, while copper softened somewhat amid concerns about an economic slowdown in China but remained at high levels due to tight supply and demand resulting from low inventories and other factors.」
The update described differences in market conditions by commodity: crude oil remained at high levels, iron ore plunged, and copper remained elevated even after softening. - FY2022-Q2Update on primary commodity market trendsAnnual report
「WTI crude oil prices initially declined after reaching a six-year-and-eight-month high in early July, but rose again amid concerns about lower production resulting from a hurricane that struck the southern United States in August. Meanwhile, prices of copper and iron ore, for which China is the world's largest importer, entered a downtrend after reaching record highs, due to the Chinese government's price-control measures and concerns about weaker demand.」
Crude oil prices temporarily declined after reaching a high before rising again on supply concerns caused by the hurricane, while copper and iron ore prices entered a downtrend after reaching record highs. - FY2022-Q1Update on primary commodity market trendsAnnual report
「Primary commodity prices came under upward pressure due to supply constraints during the recovery in demand, in addition to large-scale monetary easing. Crude oil prices remained firm throughout, supported by expectations of expanding demand and other factors. Meanwhile, prices of copper and iron ore, for which China is the world's largest importer, reached record highs before temporarily weakening from May onward in response to the Chinese government's price-control measures.」
The disclosure stated that crude oil prices remained firm, while copper and iron ore prices temporarily weakened after reaching record highs. - FY2021MitigatedAnnual report
「Although crude oil prices briefly collapsed in April last year, they subsequently recovered gradually on production cuts, expectations for the resumption of economic activity, and global monetary easing. Meanwhile, prices of copper, iron ore and other commodities strongly affected by the Chinese economy continued to rise overall.」
The disclosure indicated that crude oil prices recovered gradually after a sharp decline, while copper and iron ore prices continued to rise. Commodity market volatility risk itself remained ongoing. - FY2021-Q3Update on commodity market trendsAnnual report
「Although crude oil prices briefly collapsed in April, they subsequently recovered gradually on production cuts and expectations for the resumption of economic activity. Meanwhile, prices of copper, iron ore and other commodities strongly affected by the Chinese economy continued to rise overall.」
The disclosure stated that crude oil prices recovered gradually after a sharp decline, while copper and iron ore prices continued to rise under the influence of the Chinese economy. - FY2021-Q2Update on commodity market trendsAnnual report
「Although crude oil prices briefly collapsed in April, they subsequently recovered gradually on production cuts and expectations for the resumption of economic activity. However, concerns about sluggish demand remained strong, and prices continued to face upward pressure. Meanwhile, prices of copper, iron ore and other commodities strongly affected by the Chinese economy rose overall.」
The disclosure stated that crude oil prices recovered after a sharp decline but concerns about sluggish demand remained, while copper and iron ore prices rose overall. - FY2021-Q1RestatedAnnual report
「Although crude oil prices briefly collapsed in April, primary commodity prices subsequently recovered gradually on production cuts and expectations for the resumption of economic activity. Prices of other major primary commodities, including copper, rose overall amid the relatively solid recovery of the Chinese economy and concerns about supply reductions caused by the spread of COVID-19 in producing regions.」
The disclosure described the recovery in crude oil prices following their sharp decline and the rise in prices of major primary commodities such as copper. Although commodity market volatility risk continued, some commodities recovered during the quarter. - FY2020MaterialisedAnnual report
「As a result, economic activity in each country was severely restricted, leading to a sharp contraction in the global economy, turmoil in financial markets, and declines in primary commodity prices. Crude oil prices in particular plunged due to the collapse of OPEC+ talks on coordinated production cuts, in addition to concerns about weaker demand resulting from movement restrictions and the economic downturn. Copper prices also declined amid concerns about weaker demand in China, which accounts for half of global consumption, and successive suspensions of automobile production.」
The disclosure stated that the previously identified risk of market volatility had materialized, with crude oil and copper prices declining and financial markets disrupted against the backdrop of the spread of COVID-19 and other factors. - FY2020-Q3RestatedAnnual report
「During this period, commodity markets, including crude oil, showed different price movements by commodity due to supply-side factors, US-China trade friction, and rising geopolitical risks in the Middle East.」
The disclosure reiterated that commodity markets showed different price movements by commodity due to supply-side factors, US-China trade friction, and rising geopolitical risks in the Middle East. - FY2020-Q2WorsenedAnnual report
「During this period, commodity markets, including crude oil, showed different price movements by commodity due to supply-side factors, US-China trade friction, and rising geopolitical risks, particularly in the Middle East.」
Amid continued differences in price movements by commodity, the disclosure identified rising geopolitical risks, particularly in the Middle East, in addition to the previously cited supply-side factors and US-China trade friction. - FY2020-Q1WorsenedAnnual report
「During this period, commodity markets, including crude oil, showed different price movements by commodity due to supply-side factors, US-China trade friction, and rising geopolitical risks, particularly in the Middle East.」
Amid continued differences in price movements by commodity, the disclosure identified rising geopolitical risks, particularly in the Middle East, in addition to the previously cited supply factors and US-China trade friction. - FY2019RestatedAnnual report
「During this period, commodity markets, including crude oil, showed different price movements by commodity due to supply-side factors and US-China trade friction.」
The disclosure reiterated that commodity markets showed different price movements by commodity and explained the mitigation of price volatility risk through commodity derivatives and other instruments. - FY2019-Q3RestatedAnnual report
「During this period, commodity markets, including crude oil, showed different price movements by commodity due to supply-side factors and the impact of trade friction, particularly between the United States and China.」
The disclosure reiterated that commodity markets showed different price movements by commodity due to supply factors and the impact of trade friction, particularly between the United States and China. - FY2019-Q2RestatedAnnual report
「During this period, commodity markets, including crude oil, showed different price movements by commodity due to supply-side factors and the impact of trade friction, particularly between the United States and China.」
The disclosure indicated that commodity markets did not recover uniformly but showed different price movements by commodity due to supply factors and the impact of US-China trade friction. - FY2019-Q1WorsenedAnnual report
「Meanwhile, changes in trade friction and the situation in the Middle East resulting from US policies increased uncertainty across the global economy. During this period, commodity markets, including crude oil, experienced volatile price movements due to supply-side factors and the impact of trade friction, particularly between the United States and China.」
The description of commodity markets changed from a recovery trend to volatile price movements caused by supply factors and the impact of US-China trade friction. - FY2018-Q3MitigatedAnnual report
「Meanwhile, during this period, commodity markets, including crude oil, remained somewhat weak before recovering.」
The disclosure indicated that commodity markets were initially weak but subsequently recovered. - FY2018-Q2MitigatedAnnual report
「Meanwhile, during this period, commodity markets, including crude oil, remained somewhat weak before recovering gradually.」
The disclosure indicated that commodity markets were initially weak but subsequently recovered gradually. - FY2018-Q1WorsenedAnnual report
「Meanwhile, during this period, commodity markets, including crude oil, remained somewhat weak.」
The view that commodity markets had recovered toward the end of the previous fiscal year changed to a view that markets, including crude oil, were somewhat weak in the first quarter under review. - FY2017RestatedAnnual report
「During this period, commodity markets, including crude oil, initially declined but recovered toward the end of last year.」
The disclosure described a temporary decline in commodity markets followed by a recovery toward year-end, confirming at the full-year results the market outlook held through the previous quarter. - FY2017-Q3MitigatedAnnual report
「Revenue was ¥8,092.4 billion, down ¥1,431.6 billion, or 15.0%, from the cumulative third quarter of the previous fiscal year, mainly due to lower sales volumes and selling prices in the oil trading and other businesses. During this period, commodity markets, including crude oil, initially declined but recovered toward year-end.」
Although revenue continued to decline due to lower sales volumes and prices, commodity markets recovered toward year-end, and the year-on-year revenue decline narrowed from 18.2% for the cumulative second quarter to 15.0%. - FY2017-Q2WorsenedAnnual report
「Revenue was ¥5,337.2 billion, down ¥1,187.0 billion, or 18.2%, from the cumulative second quarter of the previous fiscal year, mainly due to lower sales volumes and selling prices in the oil trading and other businesses.」
The year-on-year decline in revenue due to lower sales volumes and selling prices in the oil trading and other businesses widened to 18.2%, from 16.5% for the cumulative first quarter. - FY2017-Q1WorsenedAnnual report
「Revenue decreased by ¥550.6 billion, or 16.5%, year on year to ¥2,791.7 billion due to lower selling prices in the oil trading business and other operations.」
The decline in selling prices in the oil trading and other businesses resulted in a 16.5% year-on-year decline in revenue. - FY2016MaterialisedAnnual report
「Commodity markets generally remained weak. Crude oil prices followed a downward trend but rebounded somewhat toward the end of the period.」
Weak market conditions for crude oil, coal, copper, iron ore, and other commodities have materialized as lower profit and impairment losses in Energy & Metals.