In the agricultural market, according to MXV, the agricultural market had its first recovery session after four consecutive sessions of decline. In particular, soybean prices continued to increase for the third consecutive session with 1.12% to 390 USD/ton. After nearly two weeks of accumulation in the horizontal range, the market had a new boost thanks to President Trump's statement that the US and China had a discussion yesterday morning. Despite China's previous denial of this information, the US statement still boosted strong buying power in the market.
In addition, the harvest in South America continues to show signs of slowing. According to data from the Buenos Aires Commodity Exchange, in Argentina, the harvest has only reached 14.5% of the planned area, much lower than last year. Meanwhile, the Brazilian Grain Exporters Association (ANEC) has lowered its forecast for Brazilian soybean exports in April to 14.3 million tons, lower than its previous estimate. These factors indicate that competitive pressure on the international market is easing in the short term, contributing to the upward momentum of prices.
Weather-wise, there are no short-term concerns. Some areas of the southern and eastern United States remain wet, slowing planting, but rising temperatures are helping to dry out soils. Improved moisture in the west is considered positive. The latest update from the U.S. Department of Agriculture (USDA) shows that soybean acreage in drought has dropped by 21%, down from last week and almost the same as last year.
In addition, according to the weekly Export Sales report, US soybean sales for the 2024-2025 crop year reached 277,000 tonnes in the week ending April 17, down 50% from the previous week. Soybean deliveries also fell 31.4% to 495,000 tonnes during the period. The decline in US sales and deliveries was still within market expectations, so the impact on prices in yesterday's session was not too large.
Soybean oil prices jumped 3.5% to $1,103 a tonne yesterday, supported by higher crude oil prices and concerns over Argentina’s crop.
In the metal market, prices of many commodities increased in yesterday's trading session amid the easing of tensions in US-China relations. At the end of the session, silver prices reversed and decreased slightly by 0.13% to 33.5 USD/ounce. Meanwhile, platinum prices inched up by 0.07% to 980.3 USD/ounce.
In the face of strong opposition from the auto industry to US President Donald Trump's reciprocal tax policy, according to some foreign sources, Washington is considering a plan to exempt some high taxes for automakers.
Recently, the Alliance of American Automobile Industry Associations has petitioned President Trump to suspend the 25% tariff on imported auto parts because if implemented, it will disrupt the supply chain, creating a domino effect leading to high car prices, reduced car sales at dealerships, difficulties for suppliers, the risk of stopping production, laying off employees or going bankrupt, leading to stagnation of production lines. The exemption mainly targets the tariffs that Mr. Trump imposed on imported goods from China in an effort to suppress fentanyl. The auto industry is currently subject to a 25% tariff on steel and aluminum.
The news has lifted market sentiment, especially for platinum, which the auto industry has relied heavily on for catalytic converters, spark plugs, sensors and other vehicle components.
In the base metals market, COMEX copper prices reversed course and rose 0.26% to $10,705/ton. On the other hand, iron ore prices lost 0.79% to $99.45/ton.
According to experts at the CCIE-2025SMM Copper Industry Conference Forum, although China is actively promoting technology localization to meet the growing demand from the new energy, aerospace and industrial electronics industries, the output of semi-finished copper in 2024 will only increase slightly by 1.9% compared to the same period in 2023, reaching 21.3 million tons. This shows that the current copper supply is still not enough to meet the growing demand in the world's largest consumer market, thereby supporting the increase in copper prices in the recent trading session.
On the other hand, concerns about supply disruptions at the Antamina copper mine in Peru have been eased as mining operations there are gradually returning to stability, somewhat curbing the rise in copper prices in the global market.
Source: https://baodaknong.vn/thi-truong-hang-hoa-25-4-sac-xanh-bao-phu-thi-truong-250551.html
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