In this Commodities Watch, we take a first look at some of the most important features of President Joe Biden’s $2 trillion infrastructure package, known as the American Jobs Plan, from a commodities perspective. The upshot is that even if it is passed in its current form (which we think is unlikely), we doubt there would be much of an impact on prices in the near term. Further ahead, we think the effects of the Plan would only really be felt in a handful of commodity markets, including coal, natural gas, cobalt and nickel.
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