Emtia piyasas\u0131nda ge\u00e7en y\u0131l genel olarak y\u00fckseli\u015f e\u011filimi g\u00f6r\u00fcld\u00fc. ABD Merkez Bankas\u0131n\u0131n (Fed) faiz indirimlerine devam etmesi ve bu indirimlere 2026 y\u0131l\u0131nda da devam edece\u011fi beklentileri, k\u00fcresel b\u00fcy\u00fcme \u00f6ng\u00f6r\u00fclerinin yukar\u0131 y\u00f6nl\u00fc revize edilmesi, arz y\u00f6nl\u00fc endi\u015feler ile jeopolitik riskler emtia fiyatlar\u0131n\u0131 destekleyen unsurlar aras\u0131nda yer ald\u0131.<\/p>\n
2025 de\u011ferli metaller i\u00e7in rekor y\u0131l\u0131 oldu<\/strong><\/p>\n Ge\u00e7en y\u0131l ons baz\u0131nda alt\u0131n y\u00fczde 64,2, g\u00fcm\u00fc\u015f y\u00fczde 146, platin y\u00fczde 126,8 ve paladyum y\u00fczde 74,6 y\u00fckseldi. Alt\u0131n ve g\u00fcm\u00fc\u015f 1979’dan bu yana en h\u0131zl\u0131 y\u00fckseli\u015fini kaydederken, alt\u0131n\u0131n onsu 4 bin 549,94 dolarla g\u00fcm\u00fc\u015f\u00fcn onsu 84 dolarla, platinin onsu 2 bin 489,2 dolarla tarihi zirveyi, paladyum da 1987,45 dolarla Aral\u0131k 2022’den bu yana en y\u00fcksek seviyeyi g\u00f6rd\u00fc.<\/p>\n Fed’in faiz indirimlerine ba\u015flamas\u0131 k\u0131ymetli metalleri destekleyen \u00f6nemli unsurlar aras\u0131nda yer al\u0131rken, jeopolitik riskler de \u00f6zellikle alt\u0131n ve g\u00fcm\u00fc\u015f fiyatlar\u0131ndaki y\u00fckseli\u015fte \u00f6nemli rol oynad\u0131.<\/p>\n \u00d6te yandan g\u00fcm\u00fc\u015f, end\u00fcstriyel alanda da yo\u011fun talep g\u00f6r\u00fcyor. \u00d6zellikle g\u00fcne\u015f enerjisi, elektronik ve elektrikli ara\u00e7 sekt\u00f6rlerinden gelen taleplerle g\u00fcm\u00fc\u015fteki end\u00fcstriyel talep, g\u00fc\u00e7l\u00fc kalmaya devam ediyor. K\u00fcresel \u00e7apta g\u00fcm\u00fc\u015f k\u0131tl\u0131\u011f\u0131 olaca\u011f\u0131na ili\u015fkin endi\u015feler de g\u00fcm\u00fc\u015f\u00fcn y\u00fckseli\u015fi \u00fczerinde \u00f6nemli rol oynad\u0131.<\/p>\n Platin ve paladyumda \u00c7in talebi etkisini g\u00f6sterdi. \u00c7in, Menkul K\u0131ymetler D\u00fczenleme Komisyonunun otomotiv ve sanayi sekt\u00f6rlerinde kullan\u0131lan platin ve paladyum i\u00e7in vadeli i\u015flem ve opsiyon kay\u0131tlar\u0131n\u0131 onaylamas\u0131, bu iki \u00fcr\u00fcn\u00fcn fiyat hareketlerinde etkili oldu.<\/p>\n Di\u011fer taraftan platin ve paladyum ge\u00e7en y\u0131l arz s\u0131k\u0131nt\u0131s\u0131 nedeniyle de y\u00fckseldi. Madencilik arz\u0131ndaki daralma, g\u00fcmr\u00fck tarifelerindeki belirsizlik ve alt\u0131na y\u00f6nelen yat\u0131r\u0131mc\u0131lar\u0131n k\u0131smen bu metallere d\u00f6nmesi platin ve paladyumun y\u00fckseli\u015finde etkili oldu.<\/p>\n 2025 baz metaller i\u00e7in de ralli y\u0131l\u0131 oldu<\/strong><\/p>\n K\u00fcresel ekonomik b\u00fcy\u00fcme tahminlerinin yukar\u0131 y\u00f6nl\u00fc revize edilmesi ve \u00c7in talebinin devam etmesi ge\u00e7en y\u0131l baz metalleri destekledi. Tezgah \u00fcst\u00fc piyasada, ge\u00e7en y\u0131l libre baz\u0131nda fiyatlar bak\u0131rda y\u00fczde 41,9, al\u00fcminyumda y\u00fczde 17,2, kur\u015funda y\u00fczde 2,6, nikelde y\u00fczde 8,7, \u00e7inkoda y\u00fczde 4,4 artt\u0131.<\/p>\n Bak\u0131r fiyatlar\u0131 ge\u00e7en y\u0131l \u00f6zellikle ABD Ba\u015fkan\u0131 Donald Trump’\u0131n politikalar\u0131ndan ve arza ili\u015fkin endi\u015felerden etkilendi. Y\u0131la 3,99 dolardan ba\u015flayan bak\u0131r\u0131n libresi, ABD Ba\u015fkan\u0131 Donald Trump’\u0131n temmuz ay\u0131nda bak\u0131r ithalat\u0131na y\u00fczde 50 tarife getireceklerini bildirmesinin ard\u0131ndan 5,92 dolarla rekor k\u0131rd\u0131.<\/p>\n ABD merkezli Freeport McMoran \u015firketinin Endonezya’daki Grasberg maden oca\u011f\u0131nda meydana gelen kazan\u0131n bak\u0131r arz\u0131n\u0131 olumsuz etkilemesi bak\u0131r fiyatlar\u0131n\u0131n y\u00fckselmesine neden oldu. Grasberg madeni d\u00fcnya bak\u0131r arz\u0131n\u0131n yakla\u015f\u0131k y\u00fczde 3,2’sini olu\u015fturuyor ve Freeport’un toplam bak\u0131r \u00fcretiminin y\u00fczde 70’inden fazlas\u0131n\u0131 kar\u015f\u0131l\u0131yor. K\u00fcresel ye\u015fil d\u00f6n\u00fc\u015f\u00fcmde daha fazla kullan\u0131lmaya ba\u015flamas\u0131 da al\u00fcminyum fiyatlar\u0131n\u0131 destekledi.<\/p>\n Enerji grubunda y\u00f6n aray\u0131\u015f\u0131 hakimde<\/strong><\/p>\n Enerji grubuna bak\u0131ld\u0131\u011f\u0131nda y\u0131ll\u0131k bazda Brent petrol y\u00fczde 18,5 azal\u0131rken, New York Ticaret Borsas\u0131’nda i\u015flem g\u00f6ren do\u011fal gaz\u0131n \u0130ngiliz Termal Birimi (MMBtu) cinsinden fiyat\u0131 y\u00fczde 2,1 artt\u0131.<\/p>\n OPEC+ grubunun \u00fcretim kesintilerini kademeli olarak gev\u015fetme y\u00f6n\u00fcndeki ad\u0131m\u0131 ve ABD Ba\u015fkan\u0131 Donald Trump’\u0131n tarifeler \u00fczerinden t\u0131rmand\u0131rd\u0131\u011f\u0131 ticari gerilimlerin k\u00fcresel b\u00fcy\u00fcmeyi bask\u0131layabilece\u011fine dair kayg\u0131lar, Brent petrol\u00fcn fiyat\u0131n\u0131n azalmas\u0131nda \u00f6nemli rol oynad\u0131.<\/p>\n Do\u011fal gaz fiyatlar\u0131 da k\u0131\u015f aylar\u0131na do\u011fru s\u0131cakl\u0131klar\u0131n d\u00fc\u015fmesiyle birlikte kuzey b\u00f6lgelerinde arz s\u0131k\u0131nt\u0131s\u0131 ya\u015fanabilece\u011fi endi\u015fesiyle y\u00fckseldi. K\u00fcresel LNG talebinin yeniden canlanmaya haz\u0131rlanaca\u011f\u0131na y\u00f6nelik \u00f6ng\u00f6r\u00fcler de fiyatlardaki y\u00fckseli\u015fi destekledi.<\/p>\n Tar\u0131m grubunda kahve ve soya fasulyesi pozitif ayr\u0131\u015ft\u0131<\/strong><\/p>\n Tar\u0131m grubunda genel olarak negatif bir seyir \u00f6ne \u00e7\u0131karken, kahve ve soya fasulyesi pozitif ayr\u0131\u015ft\u0131. Chicago Ticaret Borsas\u0131nda kile ba\u015f\u0131na fiyatlar, bu\u011fdayda y\u00fczde 8,2, m\u0131s\u0131rda y\u00fczde 3,8 ve pirin\u00e7te y\u00fczde 30,7 azal\u0131rken, soya fasulyesinde y\u00fczde 3,6 artt\u0131.<\/p>\n ABD’de faaliyet g\u00f6steren emtia borsas\u0131 Intercontinental Exchange’de libre baz\u0131nda fiyatlar, kahvede y\u00fczde 9,1 artarken, \u015fekerde y\u00fczde 23, pamuk da y\u00fczde 6 azald\u0131. Kakaonun ton ba\u015f\u0131na fiyat\u0131 ise y\u00fczde 48,1 d\u00fc\u015ft\u00fc.<\/p>\n Kahvenin libresi ge\u00e7en y\u0131l 4,3795 dolarla tarihi zirveyi g\u00f6rd\u00fc. Kakaoda ise t\u00fcm zamanlar\u0131n en h\u0131zl\u0131 y\u0131ll\u0131k d\u00fc\u015f\u00fc\u015f\u00fc ger\u00e7ekle\u015fti. \u015eekerin libre fiyat\u0131, uluslararas\u0131 piyasalarda 0,1404 dolara kadar gerileyerek 2020 y\u0131l\u0131ndan bu yana en d\u00fc\u015f\u00fck seviyeyi test etti.<\/p>\n Kahve fiyatlar\u0131 arz endi\u015feleri nedeniyle y\u00fckseldi. ABD Ba\u015fkan\u0131 Trump’\u0131n yak\u0131nda Kolombiya’ya yeni g\u00fcmr\u00fck vergileri getirece\u011fine dair haberler fiyatlar\u0131 tetikledi. Kolombiya, d\u00fcnyan\u0131n en b\u00fcy\u00fck ikinci Arabica kahve \u00e7ekirde\u011fi \u00fcreticisi. Azalan kahve stoklar\u0131 da fiyatlar\u0131n artmas\u0131na neden oluyor.<\/p>\n Bu\u011fday fiyatlar\u0131, ABD’deki ya\u011f\u0131\u015flar\u0131n etkisiyle geriledi. D\u00fcnya pirin\u00e7 \u00fcretim tahminlerinin art\u0131\u015f g\u00f6stermesi de pirin\u00e7 fiyatlar\u0131nda de\u011fer kayb\u0131na neden oldu.<\/p>\n K\u00fcresel m\u0131s\u0131r \u00fcretiminin art\u0131\u015f g\u00f6sterece\u011fine y\u00f6nelik tahminlerle m\u0131s\u0131r fiyatlar\u0131 geriledi. ABD ve \u00c7in aras\u0131ndaki ticaret sava\u015f\u0131ndan dolay\u0131 Brezilya’da \u00fcretilen soya fasulyesine \u00c7in’in yo\u011fun talep g\u00f6stermesiyle soya fasulyesi fiyatlar\u0131 artt\u0131.<\/p>\n Daha sonra ABD Ba\u015fkan\u0131 Donald Trump ile \u00c7in Devlet Ba\u015fkan\u0131 \u015ei Cinping aras\u0131nda G\u00fcney Kore’de ger\u00e7ekle\u015ftirilen g\u00f6r\u00fc\u015fmede \u00c7in’in ABD’den soya fasulyesi alaca\u011f\u0131na dair taahh\u00fctte bulunmas\u0131 da fiyatlardaki y\u00fckseli\u015fte \u00f6nemli rol oynad\u0131.<\/p>\n K\u00fcresel b\u00fcy\u00fcmeye y\u00f6nelik artan endi\u015feler ve talebin azalaca\u011f\u0131 endi\u015feleri de pamuk fiyatlar\u0131nda azal\u0131\u015fa neden oldu. Brezilya, Tayland ve Hindistan’daki g\u00fc\u00e7l\u00fc \u00fcretim \u00f6ng\u00f6r\u00fcleri \u015feker fiyatlar\u0131ndaki d\u00fc\u015f\u00fc\u015fte \u00f6nemli rol oynad\u0131. Ayn\u0131 zamanda, Brezilya’da m\u0131s\u0131r etanol\u00fc \u00fcretiminin artmas\u0131 da \u015feker fiyatlar\u0131 \u00fczerindeki bask\u0131y\u0131 art\u0131rd\u0131.<\/p>\n 2026 k\u0131ymetli metaller i\u00e7in dinlenme y\u0131l\u0131 olabilir<\/strong><\/p>\n Vadeli i\u015flem ve emtia piyasalar\u0131 uzman\u0131 Zafer Ergezen, AA muhabirine yapt\u0131\u011f\u0131 de\u011ferlendirmede, Trump’\u0131n ABD ba\u015fkan\u0131 olmas\u0131, merkez bankalar\u0131n\u0131n alt\u0131n al\u0131mlar\u0131, faiz indirimleri beklentisi ve tarife sava\u015flar\u0131n\u0131n k\u0131ymetli metallerdeki yukar\u0131 y\u00f6nl\u00fc hareketi destekledi\u011fini s\u00f6yledi.<\/p>\n Faiz indirim beklentilerinin \u00f6zellikle g\u00fcm\u00fc\u015f, platin ve paladyum gibi \u00fcr\u00fcnlerin fiyatlar\u0131ndaki y\u00fckseli\u015fi destekledi\u011fini ifade eden Ergezen, “K\u0131ymetli metallerin 2025 performans\u0131 dolar baz\u0131nda y\u00fczde 100’\u00fc ge\u00e7ti. 2026’da k\u0131ymetli metallerden daha zay\u0131f bir performans bekliyorum. Bu \u00fcr\u00fcnlerin 2 sene \u00fcst\u00fc \u00fcste ayn\u0131 performans\u0131 g\u00f6stermesi zor.” dedi.<\/p>\n Ergezen, al\u0131c\u0131l\u0131 seyir devam etse de 2026’n\u0131n k\u0131ymetli metaller i\u00e7in dinlenme y\u0131l\u0131 olaca\u011f\u0131 \u00f6ng\u00f6r\u00fcs\u00fcnde bulundu. Asl\u0131nda k\u0131ymetli metallerin bu kadar iyi performans g\u00f6stermesinde ABD ekonomisine g\u00fcvenin azalmas\u0131n\u0131n etkili oldu\u011funu dile getiren Ergezen, \u015funlar\u0131 kaydetti:<\/p>\n “ABD ekonomisine y\u00f6nelik olumsuz durumlar olursa k\u0131ymetli metallerdeki g\u00fc\u00e7l\u00fc performans devam edebilir. Genel olarak bak\u0131ld\u0131\u011f\u0131nda k\u0131ymetli metallerde daha sakin bir seyir bekliyorum. K\u0131ymetli metallerin y\u00fczde 15-20 band\u0131nda hareket etmesini bekliyorum. Y\u00fczde 50, y\u00fczde 100’lere varan y\u00fckseli\u015flerin olmayaca\u011f\u0131n\u0131 d\u00fc\u015f\u00fcn\u00fcyorum. End\u00fcstriyel metaller taraf\u0131 g\u00f6receli olarak daha g\u00fc\u00e7l\u00fc bir performans g\u00f6sterebilir. Fed ba\u015fkan\u0131n\u0131n de\u011fi\u015fmesiyle faiz indirimlerinin daha da h\u0131zlanarak devam etmesi bekleniyor. B\u00f6yle bir durumda \u00c7in’de sipari\u015flerin toparland\u0131\u011f\u0131n\u0131 g\u00f6r\u00fcr\u00fcz. Bu da end\u00fcstriyel metallere talebi art\u0131r\u0131r.”<\/p>\n Ergezen, nadir metallerin g\u00fc\u00e7l\u00fc olmaya devam edebilece\u011fini s\u00f6yledi. Nadir metallerde savunma sanayisinde kullan\u0131lan metallerin \u00f6nemli olaca\u011f\u0131n\u0131 belirten Ergezen, “ABD ve \u00c7in ili\u015fkileri aras\u0131nda iyile\u015fme olsa bile Avrupa, ABD, Uzak Do\u011fu’da savunma sanayi yat\u0131r\u0131mlar\u0131n\u0131n devam edece\u011fi beklentisi nadir metalleri talebinin g\u00fc\u00e7l\u00fc olaca\u011f\u0131 beklentisini devam ettirecek. Tar\u0131m gurubunda ise daha sakin bir sene bekliyorum.” ifadelerini kulland\u0131.<\/p>\n\n <\/p>\n Kaynak :\u00a0http:\/\/www.milliyet.com.tr\/ekonomi\/emtia-piyasasinda-2025-kiymetli-metallerin-altin-yili-oldu-7514128<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Emtia piyasas\u0131nda ge\u00e7en y\u0131l, k\u0131ymetli metallerden alt\u0131n, g\u00fcm\u00fc\u015f ve platinin k\u0131rd\u0131\u011f\u0131 rekorlarla \u00f6ne \u00e7\u0131karken, tar\u0131m grubundaki \u00fcr\u00fcnler ise yat\u0131r\u0131mc\u0131s\u0131n\u0131 \u00fczd\u00fc.<\/p>\n","protected":false},"author":1,"featured_media":161879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[431,453,59,10735,874],"class_list":["post-161878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekonomi","tag-abd","tag-cin","tag-fiyat","tag-kiymetli-metaller","tag-yon"],"_links":{"self":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/161878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/comments?post=161878"}],"version-history":[{"count":1,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/161878\/revisions"}],"predecessor-version":[{"id":161880,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/posts\/161878\/revisions\/161880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/media\/161879"}],"wp:attachment":[{"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/media?parent=161878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/categories?post=161878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kamucalisani.net\/index.php\/wp-json\/wp\/v2\/tags?post=161878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}