Coffee prices surged by over 5.2%, while platinum continued its upward trend.

Platinum prices extended their gains for a fourth consecutive session; the coffee market remained hot, surpassing the $9,000/ton mark.

Prices of industrial raw materials have risen across the board. Source: MXV

According to the Vietnam Commodity Exchange (MXV), at the close of yesterday's trading session, the prices of both coffee commodities increased sharply by over 5.2%. At the end of the session, Arabica coffee prices remained at $9,207 per ton, while Robusta coffee also returned to the $4,842 per ton range.

The ongoing tariff tensions between the US and Brazil since July have caused Brazilian coffee exports to the US to fall by 46% in August compared to the same period last year. Meanwhile, US coffee roasters have been forced to increase purchases on the ICE exchange to meet short-term demand, leading to a sharp decline in ICE coffee inventories.

In addition, the sharp rise in coffee prices was also driven by strong buying activity from investment funds.

In the domestic market, as of this morning, coffee prices are fluctuating between 122,000 and 122,700 VND/kg, an increase of 2,200 VND compared to yesterday. The purchasing of new crop coffee (December delivery) has begun.

Farmers and dealers are also taking advantage of the opportunity to sell off their old crop stock, amidst the continuous recovery in coffee prices in recent days. Notably, foreign buyers have begun surveying demand for the new crop, but the export market remains quite sluggish.

7 out of 10 metal commodities saw price increases. Source: MXV

According to MXV, the metals group also saw overwhelming buying pressure, with 7 out of 10 commodities simultaneously increasing in price. Notably, platinum continued its upward trend for the fourth consecutive session, rising by another 0.39% to $1,417.2 per ounce.

In yesterday's trading session, the US dollar index (DXY) reversed course and fell 0.25% to 97.3 points, making dollar-denominated commodities like platinum more attractive to investors holding other currencies, thereby stimulating buying interest.

In addition, platinum prices received strong support from concerns about a prolonged supply shortage. According to the World Platinum Investment Council (WPIC) Q2 report, total global platinum supply decreased by 4% year-on-year, mainly due to an 8% drop in mining output, equivalent to approximately 123,000 ounces.

Source: https://hanoimoi.vn/gia-ca-phe-tang-manh-บน-5-2-bach-kim-tiep-da-di-len-716190.html