MXV-Index lowest in more than three months

World raw material prices fluctuated slightly, with corn prices falling for the third session and iron ore approaching the peak of early April.

According to the Vietnam Commodity Exchange (MXV), at the close, the MXV-Index continued to decrease by 0.15% - extending the decline to the 5th session, down to 2,154 points.

Green dominates the metal commodity market. Source: MXV

The metal market continued to record a dominant buying force with 6/10 items closing in the green. Notably, iron ore prices increased for the third consecutive session, with an increase of nearly 1% to 102.47 USD/ton - approaching the highest level since early April.

According to MXV, the price increase of iron ore is mainly supported by weakening supply while inventories continue to fall sharply.

Besides, positive developments in the real estate market have become an important driving force for strong recovery of steel prices in China.

This trend has led to increased demand for essential input materials such as iron ore, thereby contributing to supporting ore prices in recent trading sessions.

In the domestic market, steel prices are still at their lowest level since the beginning of the year after a downward adjustment in early July.

Specifically, CB240 coil steel is kept at 13.23 million VND/ton, while D10 CB300 rebar steel is priced at 12.83 million VND/ton.

Red covers the agricultural commodity market. Source: MXV

On the other hand, red covered most agricultural products. In particular, world corn prices continued to plummet, marking a series of three consecutive declines.

The adjustment pressure mainly stems from high expectations for bumper crops in both the US and Brazil, in the context of slowing export demand. At the end of the session, corn prices fell 1.42% to 150 USD/ton – the lowest level in the past year.

Notably, according to the latest report from the US Department of Agriculture (USDA), up to 73% of the corn area was rated from "good" to "excellent", down slightly by 1 percentage point compared to last week but still recorded as the highest level since 2015.

This is a positive signal showing that corn crop productivity in the US this year is being maintained in a very positive state.

Source: https://hanoimoi.vn/chi-so-mxv-index-thap-nhat-trong-hon-ba-thang-711615.html