Driven by momentum, the MXV-Index extended its winning streak to a fourth consecutive session.

(Chinhphu.vn) - According to the Vietnam Commodity Exchange (MXV), the energy sector became the focal point in yesterday's trading session, playing a leading role in driving the upward trend of the entire raw materials market. This was also a crucial driving force that pushed the MXV-Index up by 0.3%, to 2,229 points.

Brent crude oil prices are approaching the $69/barrel mark.

According to MXV, the energy sector witnessed a dominant buying trend as prices of most key commodities rose sharply. The focus was on crude oil. Specifically, Brent crude oil prices increased by approximately 1.58%, reaching $68.8 per barrel; while WTI crude oil prices remained at $64.8 per barrel, representing an increase of approximately 1.79%.

Over the weekend, US President Donald Trump reiterated his intention to impose sanctions on Russia if no further progress toward a peace agreement is made within the next two weeks. At the same time, he increased pressure on India – the world's second-largest crude oil importer – to shift its oil supply from Russia.

According to Phil Flynn, senior analyst at Price Futures Group, investors believe peace negotiations are dragging on longer than expected. In addition, sporadic attacks have disrupted oil supplies from Russia to Slovakia and Hungary, further reinforcing concerns about the risk of escalating geopolitical tensions in Eastern Europe. Despite this, US Vice President JD Vance remains optimistic about the progress of negotiations between Russia and Ukraine.

Another notable point in the market is the growing expectation that the Federal Reserve (Fed) will decide to cut interest rates after its September meeting. Following the latest statements from Fed Chairman Jerome Powell, the probability of such a move has risen to 85.2%, according to data from the CME FedWatch tracking tool.

Conversely, forecasts surrounding OPEC+ production levels are creating headwinds for rising oil prices. OPEC+ countries are scheduled to meet on September 7th, amidst market speculation that the bloc may continue to increase production from October onwards.

In other news, natural gas prices in the US market have yet to recover after losing more than 4.5% in the trading session on August 22nd. Trading on the NYMEX exchange remained at $2.70/MMBtu, down slightly by 0.07%. Demand for natural gas from US power plants has not shown significant improvement, as forecasts of milder weather are expected to reduce electricity consumption.

Iron ore prices reversed course and surged amid risks of supply disruptions.

According to MXV, yesterday's trading session saw a clear divergence, with precious metals facing strong selling pressure, while most base metals maintained a positive trend. The focus was on iron ore, as the September futures contract on the Singapore exchange reversed course and rose 2.65% to $103.26 per ton, erasing earlier declines thanks to unexpected supply news.

Over the weekend, leading mining company Rio Tinto announced the temporary suspension of all operations at its SimFer mine, part of the Simandou iron ore project in Guinea, following a serious incident that killed a worker. The Simandou mountain range in southeastern Guinea, known for its high-quality iron ore reserves of approximately 1.5 billion tons, is expected to be a strategic source of supply to help reduce carbon emissions in global steel production. The mine is planned to reach a capacity of 60 million tons per year by 2028, with the first shipment expected in November of this year. The recent incident increases the risk of delays to export plans, further tightening short-term supply.

In China – the world's largest iron ore consumer – steel exports in July continued to be positive, reaching 11.4 million tons, up 5.2% from June and nearly 40% compared to the same period in 2024. For the first seven months of the year, China's steel exports increased by more than 20%, reaching 75.5 million tons.

Domestically, construction steel prices have rebounded after three consecutive downward adjustments. CB240 steel coils are currently priced at 13.3 million VND/ton, while D10 CB300 ribbed steel bars are at 12.99 million VND/ton. However, data from the Vietnam Customs Department shows that in the first half of August, iron and steel exports decreased sharply by 41% compared to the second half of July, to 280,909 tons; while imports increased by 3.6%, reaching 671,230 tons. This reflects improving domestic demand, but exports are facing competitive pressure from abundant supply from China.

Source: https://baochinhphu.vn/nang-luong-dan-dat-mxv-index-noi-dai-chuoi-tang-sang-phien-thu-4-102250826091831681.htm