World raw material prices fluctuate strongly

Published 2024년 3월 18일

Tridge summary

The MXV-Index has seen a significant increase of 3.05%, reaching its highest level in nearly four months, driven by strong price increases in commodities such as cocoa, rubber, sugar, soybean oil, copper, and RBOB gasoline. Factors contributing to this surge include a doubling of cocoa prices due to increased demand and poor harvests, a 13-year high in rubber prices due to supply concerns, a 4.59% increase in sugar prices due to rising crude oil prices, and an 11-month peak in copper prices due to tightening supply. However, iron ore prices have fallen by over 13% due to weak Chinese demand and rising inventories.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

After 5 consecutive days of increasing points, at the end of the week, the MXV-Index increased 3.05% to 2,210 points - the highest level in nearly 4 months. Notably, many products increased in price very strongly, including: Cocoa, rubber, sugar, soybean oil, copper, RBOB gasoline... The average transaction value of the entire Department is nearly 6,400 billion VND per day. day. According to MXV, at the end of the trading week of March 11-17, green dominated the price list of industrial raw materials. In particular, the prices of many products increased very sharply. Notably, cocoa prices skyrocketed nearly 25.4%, continuing to set a new historic peak at 8,018 USD/ton. This price has now doubled compared to the beginning of 2024 and is three times higher than the same period last year. In the past few years, global chocolate demand has increased sharply, especially in Asia. However, supply has not kept up with demand. This year, cocoa bean harvests in Ghana and Ivory Coast - two ...

Source: Baochinhphu