Oil and copper prices both increased sharply

According to the Vietnam Commodity Exchange (MXV), at the end of the trading session on October 23, the MXV-Index increased by 1.87% to 2,318 points - the highest level in the past two weeks, thanks to the strong increase of the energy and base metal groups.

Energy commodity market is "bright green". Source: MXV

The energy market recorded overwhelming green when 4/5 commodities increased in price. WTI oil jumped 5.43% to 61.79 USD/barrel - the first time it exceeded 60 USD/barrel since October 9. Brent oil price also increased 5.62% to 65.99 USD/barrel, the highest in two weeks. The main reason came from concerns about supply disruption.

Copper prices surge as supply risks increase. Source: MXV

In the metal group, COMEX copper prices increased 2.3% to 11,266 USD/ton, due to tight supply and stable demand in China - the world's largest copper consumer.

Since the beginning of the year, a series of incidents at key mines such as El Teniente (Chile), Grasberg (Indonesia) and Kamoa (Congo) have reduced the forecast for supply growth in 2025 to 1.4%, while the refined copper market in 2026 is forecast to move into a deficit of 150,000 tonnes.

Figures from the General Administration of Customs of China (GACC) show that the country imported 22.7 million tonnes of copper concentrate in the first nine months of 2025, up 7.8% year-on-year.

Along with China's industrial output in September increasing by 6.5%, far exceeding forecasts, MXV assessed these as strong supporting factors for the red metal's short-term growth.

Investors are now watching the US CPI report released tonight (Vietnam time) - a factor that could affect expectations that the Federal Reserve (FED) will lower interest rates to the 3.75-4% range. This will weaken the USD and increase the attractiveness of commodities priced in the greenback, including oil and copper.

Source: https://hanoimoi.vn/gia-dau-va-dong-cung-tang-manh-720724.html