Metal selling pressure increases, MXV-Index enters 2,300 point zone

Energy price list on March 31. Source: MXV

In the energy trading market at the beginning of the week, world crude oil prices increased sharply after US President D. Trump announced that he would take stronger measures against two of the world's major oil suppliers, Russia and Iran. In addition, increased demand in China and a decline in US crude oil production also pushed oil prices to record highs.

At the end of the last trading session of March, Brent oil price increased by 1.51% to 74.74 USD/barrel; WTI oil price increased by 3.06% to 71.48 USD/barrel. This is the strongest increase of WTI oil price since the beginning of this year.

Regarding the metal price list, in the last trading session of March, selling pressure prevailed, supporting the MXV-Index to increase by nearly 0.4% to 2,307 points.

Except for platinum prices, which rose, most other base metals weakened due to poor demand prospects.

Metal price list on trading day 31-3-2025. Source: MXV

Platinum is one of the essential metals in the automobile industry. Therefore, the market is in a state of confusion before the US is expected to announce the reciprocal tax policy on April 2 and officially impose a 25% tax on imported cars and components from April 3.

The tariffs are likely to disrupt supply chains and significantly increase the prices of vehicles and components, adding to inflation that has already made cars more expensive.

In the base metals market, copper prices fell 1.87% to $11,098/ton. Meanwhile, iron ore also reversed and fell 1.21% to $100.99/ton.

Iron ore was also under pressure as steel demand in China declined. However, the decline in the base metals group was limited by China's manufacturing PMI index in March reaching 50.5 points - the highest level in the past year.

Source: https://hanoimoi.vn/luc-ban-kim-loai-tang-mxv-index-vao-vung-2-300-diem-697504.html