Selling pressure prevailed in the global commodities market.

In the industrial raw materials market, cocoa prices surged more than 4% after three consecutive days of decline. Continuing its downward trend, the metals market also saw red yesterday. Selling pressure dominated, dragging the MXV-Index down another 0.41% to 2,201 points.

Cocoa prices have recovered strongly.

After three consecutive sessions of decline, cocoa prices recovered nearly 4% at the close of trading yesterday. According to MXV, concerns about supply shortages contributed to the rise in cocoa prices.

According to the International Cocoa Organization (ICCO), up to 81% of cocoa-producing areas in Ghana, the world's second-largest cocoa producer, have been affected by bud swelling disease. This could significantly impact cocoa yields and production. On the other hand, Asia's cocoa grinding volume, a measure of demand, also decreased by 1.4% year-on-year to nearly 210,970 tons in the second quarter.

Industrial raw material price list

The metal market continues to be dominated by red.

At the close of trading on July 18th, the metals market continued to be dominated by red. For precious metals, platinum prices fell below the $1,000/ounce mark after declining 2.19%, closing at $986/ounce, its lowest level in a month. Silver prices also weakened by more than 0.5% to $30.22/ounce, its lowest level in over two weeks.

The main reason for the pressure on precious metals is the strengthening of the US dollar. The Dollar Index recovered from a 4-month low, closing up 0.41% at 104.17 points. The appreciation of the US dollar has reduced the attractiveness of precious metals, thereby weakening buying interest.

Metal price list

Furthermore, market sentiment has become more cautious as the US Federal Reserve (FED) continues to leave open the possibility of lowering interest rates, and the timing of its policy shift remains uncertain. Some experts have warned that the market is overly optimistic about the FED. Meanwhile, the International Monetary Fund (IMF) yesterday predicted that the FED should wait until at least the end of 2024 before beginning to lower interest rates. This contradicts current market expectations that the FED will implement three rate cuts by the end of this year, with the first one expected in July or September.

Regarding base metals, COMEX copper prices experienced the most volatility, losing nearly 3% to $9,434.67 per ton, the lowest level in over three months. This was also the largest drop in copper prices since the beginning of June. Recently, copper prices have been continuously pressured by weak demand, especially in China, the leading copper consumer.

Prices of some other goods

Agricultural product price list

Energy price list

Source: https://congthuong.vn/thi-truong-hang-hoa-hom-nay-ngay-1972024-luc-ban-ap-dao-tren-thi-truong-hang-hoa-nguyen-lieu-the-gioi-333319.html