Commodity markets start the week sluggishly

According to the Vietnam Commodity Exchange, the world raw material market was relatively quiet in the first trading session of the week.

At the end of the session, selling pressure dominated, pushing the MXV-Index down more than 0.3% to 2,240 points. The energy and metal markets continued to be the focus with many notable developments.

Energy commodity markets weaken. Source: MXV

A cautious mood prevailed in energy markets as investors assessed sanctions from the European Union on Russian crude oil.

At the end of the trading session, Brent oil price continued to decrease slightly by about 0.1%, falling to 69.21 USD/barrel; while WTI oil price also recorded a decrease of about 0.21%, stopping at 67.2 USD/barrel.

In addition, pressure on oil prices continues to increase as many OPEC+ countries, especially Saudi Arabia - the world's largest oil exporter - simultaneously increase supply.

Saudi Arabia’s crude oil exports rose to 6.19 million barrels per day in May, the highest in three months, according to the latest report. At the same time, production and oil supplies to domestic refineries also increased compared to the previous month.

Buying power dominates the metal commodity market. Source: MXV

On the contrary, the first trading session of the week witnessed overwhelming buying power across all 10 items in the metal group.

Of which, platinum price increased by 2.68% to 1,495.7 USD/ounce, continuing to anchor at the highest price range in the past 11 years.

Yesterday, the US dollar index fell 0.62% to 97.85 points, making metals priced in US dollars more attractive to international investors. This resulted in a clear increase in buying demand, contributing to the recovery of many metal prices.

According to the latest data from the World Platinum Investment Council (WPIC), global mining output in the first quarter of 2025 reached just over 1 million ounces, down sharply by 13% year-on-year and down by 29% compared to the fourth quarter of 2024.

Meanwhile, global platinum jewelry demand in the first quarter of 2025 increased by 2% compared to the fourth quarter of 2024 and increased by 9% compared to the same period last year, reaching 533,000 ounces, supporting the upward momentum of platinum prices.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-khoi-dau-tuan-tram-lang-709966.html