Vietnam.vn - Nền tảng quảng bá Việt Nam

Commodity market is in red again

Global commodity markets are in the red, COMEX copper prices are in free fall; cautious sentiment prevails in the energy market.

Hà Nội MớiHà Nội Mới01/08/2025

The Vietnam Commodity Exchange (MXV) said that at the end of the session, overwhelming selling pressure pushed the MXV-Index down nearly 2% to 2,185 points, the lowest level in nearly two months.

metal-commodity-market-31.7.png

The metal commodity market is "red hot". Source: MXV

Selling pressure spread across most commodity groups, especially metals. All 10 major commodities in the metal group continued to sink in red.

The decline came as the US dollar continued to strengthen and investors cautiously assessed new signals about US tariff policy.

Notably, COMEX copper prices suddenly plunged more than 22%, falling to $4.35/pound (equivalent to $9,600/ton), marking the deepest drop in history.

The sharp drop has completely wiped out the spread between COMEX and LME copper, which had widened to 26% on Monday, July 28. COMEX copper is now at its lowest level since mid-April.

commodity-market-price-31.7.png

Energy commodity market dominated by red. Source: MXV

After many sessions recording positive signals thanks to newly signed trade agreements, the energy market yesterday returned to a cautious state, when the US tariff policy was assessed to have a negative impact on global energy demand.

Prices of two major crude oil commodities also reflected this concern in yesterday's trading session with a decrease of about 1%.

Specifically, at the end of the session, WTI oil price once again returned below the threshold of 70 USD/barrel, stopping at 69.26 USD/barrel, corresponding to a decrease of 1.06%. Brent oil price also recorded a decrease of 0.97% yesterday, falling to 72.53 USD/barrel.

In another notable development, the US Energy Information Administration (EIA) said that commercial crude oil reserves increased by 7.7 million barrels, putting downward pressure on oil prices in the international market.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-lai-chim-trong-sac-do-711064.html


Comment (0)

No data
No data
Wings flying on the A80 training ground
Special pilots in the flying formation to celebrate National Day September 2
Soldiers march through the hot sun on the training ground
Watch helicopters rehearse in the sky of Hanoi in preparation for National Day September 2
U23 Vietnam radiantly brought home the Southeast Asian U23 Championship trophy
Northern islands are like 'rough gems', cheap seafood, 10 minutes by boat from the mainland
The powerful formation of 5 SU-30MK2 fighters prepares for the A80 ceremony
S-300PMU1 missiles on combat duty to protect Hanoi's sky
Lotus blooming season attracts tourists to the majestic mountains and rivers of Ninh Binh
Cu Lao Mai Nha: Where wildness, majesty and peace blend together

Heritage

Figure

Business

No videos available

News

Political System

Local

Product