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Commodities refers to items that stack or are generally used in quantity in crafting or other such game functions. Objects such as Gems, Tomes of Secret, Demonic Essences and all the materials items can be salvaged into are prime examples of commodities in Diablo III.

Items such as Jeweler Designs and Blacksmith Recipes may be considered commodities, though they're not classic examples as they don't stack and are not used in quantity.