MXV-Index rose for the fourth consecutive session.

According to the Vietnam Commodity Exchange (MXV), the global raw materials market showed relatively mixed performance during yesterday's trading session (November 20).

At closing, the MXV-Index rose slightly by 0.11% to 2,186 points, extending its winning streak to four consecutive sessions. Positive sentiment prevailed in the industrial raw materials market; notably, Arabica coffee prices reached their highest levels since 2011, and Robusta coffee returned to its highest level in over a month due to concerns about supply from Brazil and Vietnam.

MXV-Index

Precious metal prices resumed their downward trend due to pressure from the US dollar.

According to MXV, the metals market showed relatively mixed performance yesterday. For precious metals, both silver and platinum prices fell again due to pressure from the US dollar. Silver prices decreased by 0.82% to $31 per ounce, while platinum reversed course and fell by 1.31% to $965.8 per ounce, ending a four-day winning streak.

Metal price list

In yesterday's trading session, precious metal prices continued to benefit from escalating tensions between Russia and Ukraine. Recently, Ukraine fired British- and American-made missiles into Russian territory for the first time since the conflict began in 2022. This not only increased Russia-Ukraine tensions but could also worsen relations between the West and Russia.

However, the strengthening US dollar has put significant pressure on precious metal prices, overshadowing its safe-haven role. The Dollar Index recovered after three consecutive days of declines and returned to its highest level in a year, closing up 0.45% at 106.68 points. Investors continued to flock to buy the greenback in the "Trump trade" wave and due to concerns that the Federal Reserve (FED) may keep interest rates high for longer. The CME Group's FedWatch interest rate tracker shows that market expectations of a rate cut in December have decreased significantly, with the odds now at 55.7%, down from 82.5% just a week ago.

Regarding base metals, iron ore prices saw the sharpest decline, falling 0.26% to $101.03 per ton. Amidst continued weak demand in China, the government's failure to introduce new economic stimulus policies disappointed investors, leading to a continued outflow of capital from the market.

Yesterday (November 20), the People's Bank of China (PBOC) kept the one-year loan prime rate (LPR) unchanged at 3.1%, and the five-year LPR (applicable to long-term investment loans such as home loans and mortgages) unchanged at 3.6%.

Adding further pressure on prices, analysts at BMI Analytics, a division of Fitch Solutions, have forecast that iron ore prices will continue to fall due to weak demand in China, the leading consumer market. The average iron ore price in 2025 is expected to reach $100 per ton, down from an average of $104 per ton in 2024. In the medium term, BMI forecasts iron ore prices to fall to $78 per ton by 2033.

Prices of some other goods