World raw material market improves in the first session of the week

According to MXV, the overwhelming green color on the world raw material price list on the first trading day of the week (November 4) pulled the MXV-Index up 1.02% to 2,185 points.

According to the Vietnam Commodity Exchange (MXV), the green color dominated the world raw material price list on the first trading day of the week (November 4), pushing the MXV-Index up 1.02% to 2,185 points. Notably, the base metal market had a positive session when 7 out of 10 commodities increased in price. Meanwhile, the industrial raw material group witnessed mixed fluctuations when Arabica and Robusta coffee prices continued to increase, while cocoa prices decreased slightly after a series of continuous increases in the last week of October.

Thị trường hàng hóa hôm nay ngày 5/11: Thị trường hàng hóa nguyên liệu thế giới khởi sắc trong phiên đầu tuần

MXV-Index

COMEX copper prices hit three-week high

At the end of yesterday's trading session, the metal market witnessed a divergence between commodities. For precious metals, silver prices extended their decline to the fourth consecutive session, falling 0.22% to $32.61/ounce, a two-week low. Platinum prices also fell more than 1% to $990.5/ounce.

Metal Price List

In recent sessions, in the context of the conflict in the Middle East showing signs of cooling down, along with the weight coming from the US bond yields and the continuously rising USD exchange rate, the role of precious metals as a haven is gradually being overshadowed, causing the prices of silver and platinum to simultaneously adjust down again.

However, industry experts say prices are unlikely to fall much as the market remains “unstable” ahead of the US presidential election, which will continue to boost demand for safe-haven investments. Citi Research recently revised its silver price forecast for the next 6 to 12 months to $40 an ounce from $38 an ounce in its previous forecast. Meanwhile, a Reuters survey found that platinum prices are expected to average $1,067.5 an ounce in 2025, up from this year’s estimated price of $964 an ounce.

In base metals, iron ore rose 1.65% to $104.05 a tonne. COMEX copper also rose 1.37% to $9,769 a tonne, its highest in three weeks. Both copper and iron ore benefited from expectations that China will continue to roll out fresh stimulus to revive its slowing economy. Market attention will be focused on the meeting of the National People's Congress (NPC) Standing Committee in Beijing from November 4 to 8. The meeting is expected to unlock more resources to ease pressure on local governments and recapitalize state-owned lenders, according to forecasts from major banks such as Goldman Sachs and HSBC.

Earlier, a Reuters survey also showed that China is considering approving the issuance of more than 10,000 billion yuan ($1.4 trillion) of additional bonds in the next few years to revive the economy. This is a financial package that is expected to be supplemented if former President Donald Trump wins the upcoming US election.

Prices of some other goods