Green continues to dominate the price list of world raw materials

Published 2024년 3월 12일

Tridge summary

The MXV-Index has seen a 0.74% increase, reaching 2,161 points, driven by price increases in 21 out of 31 items. Significant price increases were observed in industrial raw materials such as cocoa, sugar, and RSS3 rubber, due to factors like poor crop prospects in Brazil and a predicted global cocoa shortage. Palm oil prices also saw a rise as demand recovered. Most metal commodities experienced price increases, with platinum reaching a peak since late January. However, iron ore prices saw a decline of over 6%.

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

Original content

21/31 items increased in price, pushing the MXV-Index 0.74% higher to 2,161 points. Notably, the prices of some industrial raw materials such as cocoa, sugar, and RSS3 rubber increased sharply by 2-5%. While most metal products receive quite positive purchasing power. At the end of the trading day, the entire transaction value of the Department reached over 7,400 billion VND. Industrial raw materials lead the upward trend in market prices Closing the trading session on March 11, sugar price 11 increased by 3.78% as the market reacted clearly to poor crop prospects in Brazil. Consulting firm Datagro forecasts that sugar output in the 24/25 crop year in the Central South region, where Brazil's main sugar producer is located, will decrease by 4.8% compared to the previous crop year, to 40.45 million tons. Below-average rainfall has raised concerns that sugar supply will be narrower in the near future. Cocoa prices also continued to create new records when they soared 5.19% to 6,728 ...

Source: Baochinhphu