The world's raw material market attracts investment cash flow

Buying power dominated, pushing the MXV-Index up 0.41% to 2,131 points. Notably, in the industrial raw materials market, the prices of two coffee products reversed upward after the previous adjustment session. Going against the upward trend of the entire market, the metal group (except iron ore), all items decreased in price.

MXV-Index

Metal market in red

According to MXV, at the close of trading on September 17, except for iron ore, all metal commodities fell in price as the market was cautious about the US Federal Reserve's (FED) interest rate cut plan. For precious metals, silver prices fell slightly by 0.5% to 30.97 USD/ounce, ending a three-session increase streak. Platinum prices also continued to decline, falling 0.55% to 982.8 USD/ounce.

Metal price list

Market focus is on US retail sales and industrial production data released last night, as these are the last economic data released before the FED decides to cut interest rates early tomorrow morning.

According to a report from the US Department of Commerce, in August, the country's retail sales unexpectedly increased by 0.1% on a monthly basis, surpassing the market's expectation of a 0.2% decrease. Industrial production growth also beat market expectations, reaching a 0.8% increase in August, higher than the forecast of a 0.2% increase. These positive economic figures, combined with the previously released data on the falling unemployment rate, have reduced the possibility of a large-scale interest rate cut by the FED. The easing of optimism in the market has caused investors to withdraw money from the precious metal market.

In addition, the USD also increased strongly after a series of data yesterday, thereby indirectly putting pressure on silver and platinum prices. Specifically, the Dollar Index closed up 0.13% to 100.89 points, ending a three-session decline.

For the base metals group, after a volatile trading session, COMEX copper prices were almost flat, down only 0.01% to $9,420/ton.

On the one hand, a stronger US dollar combined with investor caution ahead of the Fed’s interest rate decision weighed on copper prices yesterday. On the other hand, expectations of continued Chinese economic stimulus, coupled with a more optimistic outlook for consumption during the peak consumption season, were the main drivers supporting copper prices during the session.

Sugar prices skyrocketed more than 4%

Industrial raw material price list

Sugar prices jumped more than 4% to their highest in more than two months. Wildfires in parts of Brazil have burned about 30,000 hectares of Tereos sugarcane plantations, or 10% of the company’s acreage in Brazil, the world’s largest sugar exporter. Sugar industry group UNICA estimates that at least 230,000 hectares of sugarcane were affected by fires in August in Sao Paulo state.

Prices of some other goods

Agricultural product price list

Energy price list

Source: https://congthuong.vn/thi-truong-hang-hoa-hom-nay-189-thi-truong-hang-hoa-nguyen-lieu-the-gioi-hap-dan-dong-tien-dau-tu-346643.html