Commodities Market: Money Flows Away from Precious Metals

The Vietnam Commodity Exchange (MXV) said that at the close of trading yesterday (May 14), the MXV-Index decreased by nearly 0.5% to 2,219 points, ending the previous 4-session increase streak.

The market for industrial raw materials is weakening. Source: MXV

According to MXV, red dominated the industrial raw materials market, in which the price of Arabica coffee for July contract on the ICE US exchange decreased by 3.07% to 8,042 USD/ton; the price of Robusta coffee for the same term on the ICE EU exchange decreased by 2.32% to 5,010 USD/ton.

The decline is largely driven by a series of forecasts for increased global supplies, with Brazil’s 2025-26 coffee production set to reach 55.7 million bags, up 2.7% from the previous year – a record high for a year in the low-production cycle.

Another notable development in the industrial raw material market is that the price of July cotton futures lost its upward momentum when news of a 90-day tariff suspension between the US and China was announced. The July cotton contract on the ICE US exchange fell 1.21% to $1,443/ton.

The metal commodity market is divided. Source: MXV

In the metal market, improved sentiment due to positive US economic prospects caused demand to decline, causing the prices of two precious metals to close in the red.

In contrast, the base metals group was under pressure as supply concerns began to emerge, affecting price movements during the session.

At the end of the session, silver price fell 1.98% to 32.44 USD/ounce, platinum price lost 1.11% to 981.2 USD/ounce.

COMEX copper prices fell sharply by 1.54% to $10,252/ton amid cautious market sentiment.

In contrast, iron ore prices rebounded strongly by 2.33% to $101.83/t on concerns about tight supply as total iron ore exports from Australia and Brazil in the week ending May 11 fell 4.6% from the previous week, marking the second consecutive week of decline.

This development raised concerns about the possibility of supply disruptions from key exporting countries, thereby triggering a wave of buying in the market and pushing iron ore prices to rebound.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-dong-tien-dich-chuyen-khoi-kim-loai-quy-702292.html