由于供应限制，大宗商品市场遭受“超级挤压”。 Commodity markets suffer 'super squeeze' due to supply constraints.

大宗商品市场目前正在经历“超级挤压”，其特点是价格上涨主要是由供应限制而非需求增加推动的。 Commodity markets are currently experiencing a "super squeeze," characterized by higher prices driven primarily by supply constraints rather than increased demand. 造成这种情况的因素包括地缘政治风险，例如持续的以色列-哈马斯冲突和乌克兰战争，这些风险对全球贸易产生了负面影响，而气候变化则扰乱了供应链和商品供应，特别是在农业部门。 Factors contributing to this situation include geopolitical risks such as the ongoing Israel-Hamas conflict and the Ukraine war, which have negatively impacted global trade, and climate change, which disrupts supply chains and commodities supply, particularly in the agricultural sector. 汇丰银行表示，随着地缘政治和气候风险继续加剧，这一问题预计只会进一步恶化。 According to HSBC, this issue is only expected to worsen as geopolitical and climate risks continue to exacerbate the situation.