The MXV-Index hit its lowest level in over three months.

Global commodity prices fluctuated slightly, with corn prices falling for the third consecutive session and iron ore nearing its peak levels seen in early April.

According to the Vietnam Commodity Exchange (MXV), at closing, the MXV-Index fell further by 0.15% - extending its weakening trend for the fifth consecutive session, to 2,154 points.

Green dominated the metal commodities market. Source: MXV

The metals market continued to see buying pressure, with 6 out of 10 commodities closing in positive territory. Notably, iron ore prices rose for the third consecutive session, increasing by nearly 1% to $102.47 per ton – approaching their highest level since early April.

According to MXV, the upward trend in iron ore prices is mainly supported by weakening supply while inventories continue to decline sharply.

In addition, positive developments in the real estate market have become a significant driving force behind the strong recovery in steel prices in China.

This trend has led to a resurgence in demand for essential raw materials such as iron ore, thereby helping to support iron ore prices in recent trading sessions.

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

Specifically, CB240 steel coils were maintained at 13.23 million VND/ton, while D10 CB300 ribbed steel bars were priced at 12.83 million VND/ton.

The agricultural commodities market is dominated by red. Source: MXV

Conversely, red dominated most agricultural commodities. In particular, world corn prices continued to plummet, marking a three-day losing streak.

The downward pressure mainly stemmed from high expectations of bumper crops in both the US and Brazil, amid signs of slowing export demand. At the close of trading, corn prices fell 1.42%, to $150 per ton – the lowest level in a year.

Notably, according to the latest report from the U.S. Department of Agriculture (USDA), 73% of corn acreage was rated as "good" to "excellent," a slight decrease of 1 percentage point from the previous week but still the highest level since 2015.

This is a positive sign, indicating that corn yields in the US this year are being maintained at a very favorable level.

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