(29-1-2018) Robusta coffee London price

06/02/2018

Do not want to go deeper than 1672/1676 than half a month ago, last week London robusta has a fairly clear attitude. After 5 consecutive days of accumulation with slight fluctuations in the session, the floor price has made positive movements. Transaction was quite exciting, last week at 1786 (25/01) but not enough impetus to conquer the peak as expected.

Is London taking responsibility for this week? Forget about the levels below 1700 due to the reduced inventory (see figure 1), London prices this week must exceed and lie on 1794, or best to conquer the psychological level 1800 to 1830/1850.

US $ 1830 per tonne is the current 100-day moving average (see Figure 2).

Except for those levels, the next higher price hikes depend heavily on the selling power of producing countries, especially from Vietnam, as many businesses need to sell before Tet.

NGUYEN QUANG BINH