Commodity Market Summary Report for the Week of April 27, 2026 - May 3, 2026

The global commodity market during the week from April 27 to May 3, 2026, recorded a widespread upward trend across most key sectors, particularly in energy and precious metals. The composite commodity price index remained in positive territory amid a robust recovery in global consumption and ongoing geopolitical factors impacting supply chains. In Vietnam, these fluctuations are creating certain pressures on the input costs for manufacturing enterprises but also opening opportunities for key export commodities.

SECTOR: Agricultural Products

Global sugar prices recorded the most impressive growth in the agricultural sector this week with an increase of 2.33%, closing at 14.95 UScents/lb on May 3, 2026. This is a positive signal for domestic sugar companies, as the converted global price is approximately 8.68 million VND/ton. Additionally, other commodities maintained a stable momentum:

• Arabica Coffee: Continued to anchor at a high of 286.40 UScents/lb (approximately 166.4 million VND/ton), a slight increase of 0.3% compared to the beginning of the week.
• Rubber: Traded at 215.40 JPY/kg, up 0.37%, indicating stability in demand from the global tire industry.
• Animal Feed Ingredients: Corn rose 0.75% to 468.25 UScents/bu; Soybeans increased 0.49% to reach 1,187.80 UScents/bu. This increase may put pressure on livestock production costs in Vietnam in the coming period.
• Cocoa: Held at 3,596.00 USD/mt, a slight increase of 0.76%.

Causes: Adverse weather in key growing regions in South America and Southeast Asia has tightened the supply of sugar and coffee. For grains, rising logistics costs and energy prices have pushed production costs to new levels.

Outlook for next week: The agricultural sector is expected to continue moving sideways or increase slightly. Investors should closely monitor weather forecasts in Brazil and Vietnam regarding coffee and sugar.

SECTOR: Metals

The precious metals market witnessed a surge in Silver with a 1.98% increase, reaching 75.16 USD/toz, while Gold maintained its position as a safe-haven asset at record price levels. Specifically, Gold prices closed the week at 4,612.50 USD/toz (equivalent to approximately 146.5 million VND/tael), up 0.22% for the week.

• Platinum: Recorded an upward trend of 0.55%, reaching 2,022.95 USD/toz.
• Industrial Metals: Aluminum rose 1% to 3,518.40 USD/mt; Zinc increased 0.83% to reach 3,340.40 USD/mt.
• Copper: Showed mixed performance, falling slightly by 0.47% to 598.60 UScents/lb, reflecting short-term caution in the global construction industry.

Causes: A slightly weaker USD and expectations of interest rate adjustments from major central banks have driven capital flows into precious metals. Demand for aluminum and zinc increased as renewable energy projects were accelerated.

Outlook for next week: Gold prices are likely to consolidate around the 4,600 USD threshold before establishing a new trend. Industrial metals will depend heavily on the upcoming manufacturing data (PMI) from major economies.

SECTOR: Energy

Crude oil prices recorded a week of strong growth, with WTI leading the rally by 2.98%, closing at 101.94 USD/bbl. Brent crude was not far behind, increasing 2.02% to reach 108.17 USD/bbl on May 3, 2026, equivalent to approximately 2.85 million VND/barrel.

• US Natural Gas: Increased 0.47%, maintaining at 2.78 USD/mmbtu.
• Coal: Stable at 133.90 USD/mt with negligible fluctuation (+0.07%).

Causes: Rising geopolitical tensions in the Middle East, combined with the continued production cuts by oil-exporting nations (OPEC+), pushed oil prices above the 100 USD threshold. Summer travel demand in the Northern Hemisphere is also beginning to have a positive impact on fuel prices.

Outlook for next week: Upward price pressure remains present. In Vietnam, domestic gasoline prices may face pressure for upward adjustments in the next operating period if this trend continues.

SECTOR: Food

The food market maintained a stable state with slight fluctuations, in which pork prices increased 0.67% to reach 92.83 USD/lbs. Other items in the group did not see significant changes:

• Beef: Traded at 354.45 BRL/kg, a slight increase of 0.23%.
• Chicken: Remained at the same price of 7.17 BRL/kg compared to last week.

Causes: Pork supply in major markets like the US and China showed signs of slight tightening, while domestic consumption demand in these countries remained stable.

Outlook for next week: Food prices are forecast to have little volatility as global supply remains balanced with demand.

Most Notable Commodities of the Week

Over the past week, the following three commodities had the most notable performance:

• WTI Crude Oil (+2.98%): The commodity with the strongest increase, breaking the psychological threshold of 100 USD/bbl, signaling a period of high energy costs.
• Sugar (+2.33%): Strong growth momentum after a series of sideways days, indicating a short-term supply shortage.
• Silver (+1.98%): Attracted stronger speculative capital flows than gold this week.
• Copper (-0.47%): The rare commodity in the metals group to record a decline, showing divergence in industrial demand.

Forecast and Recommendations for Next Week (May 4, 2026 - May 10, 2026)

Trend Forecast:

• Energy: Continued upward trend due to geopolitical factors. WTI may head towards the 105 USD zone.
• Metals: Gold and Silver will maintain high levels. Base metals like Aluminum may continue to rise due to increased input energy costs.
• Agricultural Products: Coffee and sugar prices will anchor at high levels; grains may increase slightly in line with oil prices.

Risk factors to monitor:

Enterprises and investors should pay special attention to the US Dollar Index (DXY) and crude oil inventory reports. In Vietnam, exchange rate fluctuations and energy prices will be two key factors affecting the profit margins of businesses importing production materials. It is recommended that businesses consider futures contracts to lock in input prices, avoiding the risk of short-term energy and agricultural price volatility.