World commodity market lacks momentum, MXV-Index moves sideways

The world raw material market has not yet escaped the tug-of-war trend, iron ore prices have turned to decrease.

According to the Vietnam Commodity Exchange (MXV), red covered many commodities, pulling the MXV-Index sideways around 2,238 points.

The metal commodity market is divided. Source: MXV

The metal market is clearly divided in the context of the market evaluating conflicting information on trade policy as well as supply-demand data.

After two consecutive sessions of increase to the highest level since late February, iron ore prices decreased by 0.85% to 104.4 USD/ton.

Global steel production is on a downward trend, reducing the consumption outlook for steelmaking raw materials such as iron ore. According to the World Steel Association, in the first half of 2025, global steel production recorded a 2.2% decrease compared to the same period in 2024, down to 934.3 million tons.

The market for industrial raw materials has mixed developments. Source: MXV

Not outside the general market trend, the industrial raw materials group also witnessed mixed developments.

RSS3 rubber price on the Osaka exchange recorded a decrease of nearly 0.4% to 2,231 USD/ton, while TSR20 rubber price on the Singapore exchange lost more than 1% to 1,695 USD/ton.

On the supply side, Indonesia – the world’s second largest rubber producer – exported 647,000 tonnes of TSR20 in the first five months of the year, up 14.8% year-on-year, but the average selling price through May was still lower than at the beginning of the year. On the demand side, the automotive industry – the largest consumer of rubber – has been significantly affected by tariff measures that have been in place since April.

In the domestic market, this morning (July 24), the price of rubber latex fluctuated slightly, trading around 385 - 410 VND/TSC. The latest quote from Phu Rieng Rubber One Member Co., Ltd. (Vietnam Rubber Industry Group - VRG), latex rubber, the main input material for producing RSS3 rubber, is priced at 410 VND/TSC, up 1.2% compared to July 17. Mixed latex rubber, the main input material for producing TSR20, is priced at 380 VND/TSC, up slightly 1.3% compared to July 17.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-the-gioi-thieu-dong-luc-mxv-index-di-ngang-710193.html