Robusta coffee prices increased by 2.74%.

At the close of yesterday's trading session, coffee prices extended their gains from the end of last week. Specifically, Robusta coffee prices rose 2.74% to $5,143 per ton.

According to the Vietnam Commodity Exchange (MXV), the global commodity market was relatively quiet on Martin Luther King Day in the US, with prices of some commodities as of 2:30 AM Vietnam time. However, buying pressure remained dominant, keeping the MXV-Index stable at 2,308 points. The metals and industrial raw materials markets closed early and showed relatively cautious activity on the day Donald Trump was inaugurated as President of the United States.

Thị trường hàng hóa 21/1: Giá cà phê Robusta tăng 2,74%

MXV-Index

The metals market is fluctuating and consolidating.

At the close of yesterday's trading session, the metals market was relatively quiet with thin liquidity due to the US holiday. Among precious metals, silver prices rose approximately 0.3% to $31.23 per ounce, while platinum prices fell slightly by 0.24% to $963.2 per ounce.

Metal price list

Yesterday, the prices of the two precious metals fluctuated in opposite directions amidst divergent fundamental information. On the one hand, precious metal prices faced pressure as geopolitical conflicts eased, particularly in the Middle East after Israel and Hamas officially reached a ceasefire agreement in the Gaza Strip following months of fighting. This reduced investment demand for safe-haven assets, thereby putting pressure on the prices of silver and platinum.

On the other hand, precious metals, a safe-haven commodity, saw buying interest due to increased risk aversion following US President Donald Trump's inauguration early this morning (Vietnam time). Furthermore, analysts and industry experts predict that Trump will soon issue national energy policies emphasizing the expansion of oil and gas production, which could reduce energy costs and inflationary pressure, reinforcing expectations that the Federal Reserve (FED) will continue to lower interest rates this year.

Regarding base metals, green remained the dominant color on the price chart, with the exception of copper and iron ore. COMEX copper prices fell sharply by more than 1% yesterday, after the People's Bank of China (PBOC) kept lending rates unchanged for the third consecutive month in its January adjustment, despite its commitment to boosting domestic consumption.

Regarding iron ore prices, the market fluctuated but sellers still held a slight advantage due to concerns about demand from China. In the week ending January 12th, the average price of finished steel in China continued to decline slightly, according to an announcement from the Ministry of Commerce (MOC). Specifically, from January 6th to 12th, the average prices of hot-rolled coil, ribbed bar, and steel plate decreased by 1.9%, 1.3%, and 1.2% respectively compared to the previous week.

Aluminum prices were supported amid expectations that U.S. President Donald Trump's tariff action against China would be postponed. In a statement, Trump said he would issue a comprehensive trade memorandum that would not impose new tariffs on his first day in office. Instead, he would direct federal agencies to assess U.S. trade relations with China, Canada, and Mexico.

Coffee prices continue their upward trend.

According to MXV, in the first trading session of the week, half of the commodities in the industrial raw materials group were closed for trading, including Arabica coffee, cotton, cocoa, and sugar. Among them, coffee prices continued their upward trend from the end of last week due to the less optimistic supply outlook in Brazil, the world's largest coffee supplier. At closing, Robusta coffee prices rose 2.74% to $5,143 per ton.

Industrial raw material price list

According to a report released yesterday by investment bank Itau BBA, Brazil's coffee harvest in 2025 is expected to remain low, marking the fifth consecutive year of below-average yields. The bank also stated that world coffee prices will continue to remain high and are likely to rise further amid increasing global coffee consumption, while the supply of Arabica coffee will be limited in 2025 and early 2026.

Additionally, the US Department of Agriculture (USDA) has revised down its estimate for Brazil's 2024-2025 coffee harvest to 66.4 million 60-kg bags from the previously reported 69.9 million bags, of which 45.4 million bags are Arabica beans (accounting for 68.38% of total production) and 21 million bags are Robusta coffee (accounting for 31.62%).

Furthermore, the indirect impact of the USD/BRL exchange rate on Brazilian exports also supported coffee prices yesterday. The US dollar was expected to continue strengthening after Donald Trump's inauguration, which caused the USD/BRL exchange rate to fall by 0.64% to 6.03 points. A narrowing exchange rate differential could lead Brazilian farmers to limit coffee sales due to lower foreign currency earnings, thus reducing coffee exports to the world market.

In other developments, palm oil prices rose by about 0.5% to $955.6 per ton, mainly due to increased technical buying after consecutive price declines in recent sessions. However, prices remain under pressure amid weak demand prospects, particularly in India, the world's largest palm oil importer.

According to Indian officials, palm oil imports in January 2025 are expected to fall to their lowest level in nearly five years, due to a sharp drop in demand and a shift by buyers from consuming palm oil to soybean oil. Officials estimate that the country imported around 110,000 tonnes of palm oil in the first half of January, and full-month imports are projected to reach only 340,000-370,000 tonnes, the lowest level since March 2020.

Prices of some other goods