Supply and demand continue to influence commodity prices

The commodity market started the new week with mixed developments, with the MXV-Index up slightly by 0.1% to 2,306 points.

Agricultural market is red as selling pressure increases on 7 products. Source: MXV

Red covered the agricultural group in which Chicago wheat price decreased nearly 1%, down to 191.9 USD/ton - the lowest level in many months.

Russian wheat prices for 12.5% ​​content for year-end delivery fell to $228 a tonne, while November exports are forecast at 5.2–5.4 million tonnes, consultancy IKAR said.

Green dominates the metal market. Source: MXV

On the other hand, 8/10 items in the metal market closed in the green. Iron ore prices led the metal group's gains as they recovered more than 1% to $105.03/ton.

Prices have bounced back on concerns about a short-term shortage. However, this support may not last long as ore inventories at Chinese ports have risen to 139.6 million tonnes – the highest since March.

In addition, the Simandou mine (Guinea) started exporting its first batch of ore in November with a designed capacity of 120 million tons/year, which is expected to soon significantly supplement China's supply.

Domestically, in the context of complicated fluctuations in world raw material prices with no clear trend in the past 3 months, domestic construction steel prices have remained stable since September until now, mainly thanks to support from domestic demand.

Recorded on the morning of November 25, CB240 coil steel remained at 13.5 million VND/ton, while D10 CB300 steel was around 13.09 million VND/ton.

Source: https://hanoimoi.vn/dien-bien-cung-cau-tiep-tuc-chi-phoi-gia-hang-hoa-724563.html