Raw material market sinks deep in red

According to the Vietnam Commodity Exchange (MXV), at the end of the last trading week (September 15-19), the world raw material market was deep in red.

Closing, the MXV-Index decreased more than 1.5% compared to last week, falling to 2,226 points.

Industrial raw material market was red last week. Source: MXV

The industrial raw materials market witnessed overwhelming selling pressure across all nine commodities being traded in the group.

Notably, coffee prices recorded a sharp decline with four consecutive sessions of decline. At the close of trading on September 19, Arabica coffee prices lost more than 7.6% to 8,079 USD/ton while Robusta coffee prices also recorded a decrease of more than 10% to 4,135 USD/ton.

Favorable weather in Brazil and Vietnam is one of the key reasons for the sharp decline in coffee prices. In Vietnam - the world's largest Robusta exporter, the market is placing high expectations on the October harvest, with forecasts of the highest output in the past four years.

In the domestic market, the price of green coffee beans in the Central Highlands on September 20 fluctuated between 110,000 and 111,000 VND/kg. Coffee export turnover in the week from September 10 to 16 reached 18,400 tons, a sharp increase of 54% compared to the previous week, worth about 91 million USD.

Red dominated the energy market last week. Source: MXV

The energy market has just experienced a volatile trading week with many intertwined factors strongly affecting world crude oil prices.

At the end of the trading session on September 19, WTI oil price returned to the previous week's level, stopping at 62.68 USD/barrel, corresponding to a decrease of 0.02% compared to the previous week; meanwhile, Brent oil price also decreased by 0.46% compared to the session on September 12, falling to 66.68 USD/barrel.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-nguyen-lieu-chim-sau-trong-sac-do-716859.html