Commodities Market: Silver Price Hits 13-Year High

Green covers ¾ of the world's raw material groups, in which the prices of two precious metals set new records, and coffee prices recovered.

According to the Vietnam Commodity Exchange (MXV), at closing, the MXV-Index increased 0.2% to 2,233 points.

Metal commodity market covered in green. Source: MXV

According to MXV, with 7/10 items closing in green, the metal group played a leading role in the upward trend of the entire market. The precious metal group stood out.

At the end of the trading session, silver prices set a 13-year high, up 1.82% to $36.8 an ounce. Platinum prices also recorded their sixth consecutive increase, up 3.97% to $1,214.5 an ounce, reaching their highest level since May 2021.

The US and China are by far the top markets for silver and platinum – two metals with widespread applications from clean energy to automobile manufacturing.

The market expects that the resumption of negotiations between the two sides will open up opportunities to reach new trade agreements, contributing to promoting the recovery of industrial production and thereby strengthening the prospects for silver and platinum consumption in the coming time.

In the base metal group, going against the general trend, iron ore prices continued to decrease by another 0.85%, down to 94.7 USD/ton.

The market for industrial raw materials is spreading green.

Source: MXV

In the industrial raw materials market, green appears on most key products.

Of which, the price of Arabica coffee increased by 0.98% to 7,971 USD/ton while the price of Robusta coffee also increased by 1.85% to 4,522 USD/ton.

The rise in coffee prices was supported by the Brazilian real rising to an eight-month high against the dollar, which reduced the incentive for exporters to sell, thereby tightening supplies and supporting coffee prices.

In addition, statistics from the Brazilian government show that coffee exports in May only reached 170,200 tons, down 30.5% compared to the same period last year. In the first 5 months of the year, Brazil exported about 18.2 million 60-kg bags, down 13.1% compared to the same period.

The progress of the coffee harvest in Brazil is also a factor worth noting. According to the latest report from Safras & Mercado, the progress of the 2025-2026 coffee harvest in Brazil has reached 28% of the planted area, but is still below the 5-year average of 29%.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-bac-lap-dinh-cao-nhat-13-nam-705079.html