Commodity Market: Buying Power Returns

The Vietnam Commodity Exchange (MXV) said that at closing, the MXV-Index recovered more than 1.2% to 2,179 points.

The market for industrial raw materials is on the rise. Source: MXV

According to MXV, cocoa stands out on the industrial raw material price list. The price of this item jumped 4.78% to nearly 9,000 USD/ton.

Meanwhile, the coffee market has seen mixed developments between the two commodities, as supply-demand and weather factors continue to have a strong impact on prices.

At the close of the session, the price of Arabica coffee for July contract increased by 0.41% to 8,595 USD/ton, while Robusta coffee decreased by 0.66% to 5,256 USD/ton.

In the domestic market, in Lam Dong, the coffee price today is 127,500 VND/kg. In Dak Lak and Dak Nong, the coffee price today is 128,000 VND/kg. In Gia Lai province, the coffee price today is 127,800 VND/kg.

Commodity market metal prices covered in green. Source: MXV

According to MXV, the metal market experienced a trading session with positive developments when 8/10 items increased in price.

At the end of the session, silver price jumped 2.79% to 33.38 USD/ounce, while platinum reversed and recovered strongly 3.26%, reaching 992.1 USD/ounce.

Money has been pouring into precious metals as demand for safe haven assets increases amid global financial turmoil. According to the Institute of International Finance (IIF), total global debt increased by about $7.5 trillion in the first quarter alone, reaching a record of more than $324 trillion.

In the base metals group, COMEX copper prices increased by 1.68% to 10,533 USD/ton, amid the risk of local supply shortage in the US when Canadian businesses, the second largest copper supplier to the US, began to withdraw from this market.

Iron ore prices also increased by 0.98% to $97.51/ton, thanks to positive consumption signals in China.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-luc-mua-quay-lai-701449.html