Rubber futures prices on the two exchanges this morning recorded mixed increases and decreases with an adjustment of over 1%. In particular, the price of rubber futures delivered in May 2024 on the Shanghai Commodity Futures Exchange (SHFE) increased by nearly 1%.
At the Tokyo Commodity Exchange (TOCOM), the price of rubber for futures delivery in May 2024 decreased by 1.08% to 339.4 yen/kg (equivalent to a decrease of 3.7 yen/kg) at the time of the survey. at 6:36 a.m. (Vietnam time).
Rubber futures price for May 2024 on TOCOM floor decreased more than 1%.
On the Shanghai Futures Exchange (SHFE), RSS3 rubber price for May 2024 futures delivery is at 14,665 yuan/ton, up 0.93% (equivalent to an increase of 135 yuan/ton).
Rubber prices on the Shanghai Exchange (SHFE) increased nearly 1%.
According to the latest report of the Association of Natural Rubber Producing Countries (ANRPC), in 2024, global natural rubber production is expected to reach 14.508 million tons, an increase of 1.5% compared to 2023, the Ministry Vietnam Industry and Trade reported.
In particular, Thailand's output is expected to decrease by 0.5%; Indonesia decreased by 5.1%; China increased by 4.2%; India increased by 6%; Vietnam increased by 2.9%; Malaysia increases by 2.9% and other countries increase by 7.3% compared to 2023. Meanwhile, in 2024, global natural rubber consumption is expected to reach 15,826 million tons, an increase of 4% compared to 2023. Of which, China increased by 7.1%; India increased by 3%; Thailand increased by 1%; Indonesia increased by 2.9%; Malaysia increased by 45.4%; Vietnam increased by 6% and other countries decreased by 3.8%. It is expected that the global market will have a shortage of about 1,318 million tons of rubber in 2024.
In February 2024 alone, global natural rubber output is expected to reach 995 thousand tons, down 20.5% compared to January 2024 and down 0.1% compared to February 2023; Meanwhile, natural rubber consumption is expected to reach 1.15 million tons, down 10.9% compared to January 2024 and down 10.6% compared to February 2023. Accumulated in the first 2 months of 2024, global natural rubber output reached 2.246 million tons, an increase of 0.6% and consumption reached 2.44 million tons, an increase of 8.5% over the same period in 2023.
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