MXV-Index hits highest peak since late September

Overwhelming buying power pushed MXV-Index to its highest peak since late September.

The world raw material market started the new week in green, led by the increase of the energy group, pushing the MXV-Index up nearly 0.2% to 2,283 points.

Green returns to the energy commodity market. Source: MXV

According to the Vietnam Commodity Exchange (MXV), green has returned to the energy market. Brent oil price returned to the mark of 65.47 USD/barrel, corresponding to an increase of 1.46%; while WTI oil price also recorded a recovery of 1.33%, climbing to the mark of 61.69 USD/barrel.

Not beyond the market's expectations, last weekend, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) officially announced its decision to increase oil production by 137,000 barrels/day in November after an online meeting between 8 key member countries. However, the market had anticipated this move by OPEC+, so this increase did not put much pressure on oil prices.

The metal market has a clear differentiation. Source: MXV

Meanwhile, in the metal market, there is a clear differentiation between two groups of precious metals and base metals. Platinum prices have climbed to their highest level in the past 13 years amid the market facing an increasingly serious supply shortage. Specifically, platinum prices continued to increase by more than 1%, reaching 1,659 USD/ounce.

Global platinum production in 2025 is expected to fall nearly 6% to 5.4 million ounces – its lowest level in four years, according to the World Platinum Investment Council (WPIC).

In South Africa alone, a country that accounts for more than 70% of world production, mining is expected to reach only 3.9 million ounces, the lowest in 25 years if not counting interruptions due to strikes or technical problems.

Weakening supply and rising demand are keeping platinum prices in the spotlight of commodity investors.

Source: https://hanoimoi.vn/mxv-index-len-dinh-cao-nhat-ke-tu-cuoi-thang-9-718680.html