Cocoa prices plummeted by more than 6.4% while copper prices recovered by nearly 1%.

According to the Vietnam Commodity Exchange (MXV), selling pressure continued to dominate the global raw materials market on December 15th. Notably, cocoa prices plummeted by more than 6%, while the COMEX currency recovered after weakening last weekend.

Cocoa prices have fallen sharply due to improved supply.

At the close of trading on Monday, cocoa prices recorded the sharpest decline among industrial raw materials, falling by 6.4% to $5,876 per ton. According to MXV, the downward pressure mainly stemmed from the easing of supply concerns while global demand showed no signs of improvement.

Specifically, cocoa arrivals at Ivory Coast ports in the week ending December 14 reached 91,000 tonnes, up from 85,000 tonnes the previous week and surpassing the 75,000 tonnes recorded during the same period last year. This development has eased concerns about a difficult harvest in West Africa.

Cumulatively from the beginning of the 2025-2026 crop year, total cargo arrivals at ports reached 894,000 tons, nearly matching the 895,000 tons of the same period last year. Regarding weather conditions, World Weather Inc. reported that rainfall in Ivory Coast and Ghana was above average, making drying difficult but supporting yields towards the end of the season. The forecast predicts drier weather from the end of this week, creating favorable conditions for harvesting.

In addition, weakening global demand remains a long-term pressure on prices. Third-quarter cocoa crushing figures reflect a bleak picture: crushing output in Asia fell 17% to its lowest level in nine years, and in Europe fell 4.8% to its lowest level in ten years.

Copper prices recovered due to a weaker US dollar and tariff concerns.

Conversely, the metals group saw mixed performance. COMEX copper prices recovered nearly 1% to $11,931 per ton after a sharp decline at the end of last week. The upward momentum was supported by the weakening of the US dollar, with the USD index falling 0.11% to 98.29 points, making commodities priced in this currency more attractive.

Another significant driver stems from concerns that Washington may impose import tariffs on refined copper next year. This risk has fueled stockpiling in the US. Since the beginning of the year, copper inventories at COMEX (US) warehouses have surged from around 84,700 tonnes to over 410,000 tonnes, while inventories at the LME (UK) have fallen by nearly 40%.

However, the recovery in copper prices was hampered by less-than-positive economic data from China, the world's largest copper consumer. According to China's National Bureau of Statistics, industrial production in November rose only 4.8% and retail sales increased only 1.3% year-on-year, indicating a slowdown in both production and consumption.

Source: https://baolamdong.vn/gia-ca-cao-lao-doc-hon-64-trong-khi-gia-dong-phuc-hoi-gan-1-410803.html