Commodity market: Metal prices increase across the board

The Vietnam Commodity Exchange (MXV) said that at closing time, overwhelming buying pressure pushed the MXV-Index up nearly 1% to 2,215 points.

Metal commodity markets increased in price across the board. Source: MXV

According to MXV, prices of many metal products increased simultaneously. At the end of the session, silver prices reversed and decreased slightly by 0.13% to 33.5 USD/ounce. Meanwhile, platinum prices increased by 0.07% to 980.3 USD/ounce.

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, although China is promoting technology localization, semi-finished copper output in 2024 will only increase slightly by 1.9% compared to the same period in 2023, reaching 21.3 million tons.

Agricultural commodity market recovers. Source: MXV

The agricultural market had its first recovery session after four consecutive sessions of weakness. In particular, soybean prices continued to increase for the third consecutive session, up 1.12% to $390/ton.

Soybean oil prices jumped 3.5% to $1,103 a tonne, supported by higher crude oil prices and concerns about Argentina’s crop.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-kim-loai-dong-loat-tang-700288.html