Oil increased
Oil prices continued to increase in the last session due to data showing that China’s import of goods in March 2021 increased sharply. However, the uptrend was limited after news of the US suspending the single-shot COVID-19 vaccine made by Johnson & Johnson (J&J) – causing concerns about the recovery in US oil demand.
Ending the session, Brent oil on the London floor increased 39 US cents (0.6%) to 63.67 USD / barrel; West Texas US oil (WTI) rose 48 US cents (0.8%) to 60.18 USD / barrel.
Thus, both oils fluctuated slightly below 1% per session for 5 consecutive sessions.
China’s exports in March increased at a strong rate, adding momentum to economic recovery for the country and demonstrating increased global demand amid vaccination. much progress. Imports of goods into China also hit a record high within 4 years.
Crude oil imports into China rose 21% in March 2021, from a one-year low in February 2021, when refineries increased operations.
Gold recovered due to high US inflation and weak dollar
Gold prices at the close of the last session rebounded from their lows in more than a week after data showed strong US inflation, increasing the appeal of sorghum as a hedge against inflation. in the context of weakening USD.
At the end of the session, the spot gold price increased by 0.8% to $ 1,745.94 / ounce, before that, the price dropped to its lowest level since April 5; June gold term ended up 0.9% to 1,747.6 USD / ounce.
Consumer prices in the US last March rose the most in more than eight and a half years, the start of a period when most economists predict inflation will rise in a short period of time.
The dollar dropped to its lowest level in three weeks after data on high inflation, making gold cheaper for people who buy gold in other currencies, while yields on US Treasury bonds. 10 years also decreased.
Copper recovery
Copper prices rebounded in the past session due to demand for raw materials from the industrial sector, while speculators remained cautious after China – the world’s leading metal consumer – announced that it would take measures. preventing raw material prices from rising.
Ending the session, the price of 3-month term copper on the London floor (LME) increased 0.5% to $ 8,906 / ton, after falling 0.7% in the previous session. Copper prices in LME are stuck in a range below their 9 and a half year highs – $ 9,617 / ton.
On the Comex, copper futures prices in May also increased by 0.5% to 4,037 USD / lb.
Iron ore increases, steel fluctuates heterogeneously
Iron ore prices in China rose for the third consecutive session to 5-week highs as supplies from major mining companies declined while demand was strong both at home and abroad.
Mysteel data showed that imports of iron ore from Australia and Brazil in the week to April 9 fell 4.04 million tons from the previous week, to 24.04 million tons.
On the Dalian trading floor, September iron ore rose 3.3% to 1,023 CNY (156.17 USD) / ton at the close, earlier in the same session, the price increased by 3.5%.
Rebar price in October on the Shanghai trading floor also increased by 2.4% to CNY 5,116 / ton, HR coil price increased by 2.2% to CNY 5,403 / ton, but stainless steel term in June again. down 2.8% to CNY 13,965 / ton due to lower nickel prices.
Sugar increases
Sugar prices rebounded in the past session on concerns about Chinese supply and positive trade data.
Accordingly, raw sugar increased 0.08 US cent (0.5%) to 15.43 US cent / lb. However, the upside momentum was limited by weak demand, although concerns over Brazil’s sugarcane harvest and unfavorable French wealth supported prices.
The price of white sugar ended the session with an increase of 3.7 USD (0.9%) to 424.2 USD / ton, after hitting a 3-month low in the previous session.
Coffee increased
Arabica coffee futures in May increased 1.95 US cent (1.5%) to 1,3005 USD / lb at the end of the session, after having reached the highest level since mid-March.
Fitch Solution expects global coffee consumption in the period 2021 – 2025 to increase by an average of 1.7% / year, slower than the average growth rate of 3% in the 2015-2019 period.
Information from Cecafe – Brazilian coffee export association, the country exported 3.06 million bags of coffee beans (1 bag = 60 kg) in March, down 2.7% over the same period last year. .
Trading company Comexim said the recent Arabica price hike has not had a major impact on Brazil’s real coffee market, where transactions are still sluggish.
Ending session, robusta also increased slightly 1 USD (0.1%) to 1,344 USD / ton.
Reduced rubber
Rubber prices in Japan fell to a 2.5-month low due to data showing that the amount of deposits and money circulation in the Japanese banking system in March reached a record high, showing that the economy needs More time to get out of the pandemic.
On the Osaka floor, September term rubber ended the session down 1.9 JPY (0.8%) to 224.6 JPY / kg, the lowest since the end of January.
On the Shanghai floor, September rubber also decreased 1% to 13,530 CNY / ton.
Prices of some key items on the morning of April 14
