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Commodity markets facilitate the buying and selling of raw materials like metals, grains, and energy. A commodity is a basic good used in commerce that is interchangeable with other commodities of the same type. Commoditization refers to the process by which goods become commodities, usually due to increased supply and demand making them standardized and widely available. In simple terms, commodities are essential items traded on markets, and their transformation from scarce goods to widely traded commodities is driven by economic forces.

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