Monthly commodity prices update for October 2025

The October 2025 update of PricePedia's monthly European commodity prices has been published. Overall, downward pressure on euro-denominated quotations continues: on a month-on-month basis, prices fell by -1.5%, marking the fourth consecutive monthly decline. Year-on-year, this corresponds to a decrease of nearly -10% compared to the same month last year.

The chart below shows the trend in euro prices of raw materials in the European market for PricePedia's main aggregates: Commodity^[1], Industrial^[2], Energy, and Food, each indexed to 100 at their January 2022 levels.

In monthly terms, in October 2025 all components of the Commodity Index recorded a decline in euro prices. In particular, Food prices continued the recent downward trend that began after the March 2025 peak (driven by increases affecting Tropical products). Despite this, prices remained about +3% higher than in October 2024.

As for Energy commodities, the sanctions imposed by the US and EU on Russian petroleum products did not lead to new price increases, as in previous cases. The downward trend continued instead, with euro quotations standing about -18% below their levels of twelve months earlier.

During the same period, prices of core industrial commodities also recorded a year-on-year decline of -4.3% compared to October 2024, reaching their lowest levels since June 2021. The downward pressure on European prices is driven by weak demand for raw materials and by falling Chinese export prices.

Industrial raw material prices in October 2025

The chart below sho the year-on-year variations in euro prices for the product groups included in the industrial commodity aggregate for October 2025.

Among the core industrial sectors, in addition to Pharmaceutical Chemicals, which recorded a year-on-year decline of more than -10%, the sharpest decreases were observed in Plastics and Elastomers, Organic Chemicals, and Ferrous Metals, around -7%. As highlighted in the article Chinese prices update for September 2025, these three sectors are those in which China holds global leadership, and where a significant reduction in Chinese export prices has occurred. This trend has exerted stronger downward pressure on the corresponding European markets.

Price declines were also recorded in the Textile Fibres and Wood and Paper sectors. For the latter category, the year-on-year decrease in October 2025 amounted to -4%.

Some exceptions to the overall downward trend were observed among higher value-added products, such as Inorganic Chemicals and Specialty Chemicals, which in October 2025 registered slight year-on-year increases, just above +1%.