Rubber prices today September 13, 2022, recorded a sharp increase in the Asian market. Rubber prices in Japan remained stable in the context of weakening JPY supporting the price increase, but falling rubber prices in Shanghai put downward pressure.
World rubber price
At the Osaka Commodity Exchange (OSE), the price of rubber on the afternoon of September 13, 2022, at 12:00, the term of September 2022, recorded at 224.4 JPY/kg, a sharp increase of 1.8 yen, equivalent to JPY 224.4 per kg. equivalent to 0.81%.
The price of rubber for September 2022 on Shanghai trading floor increased sharply by 195, recorded at 11,610 CNY/ton, equivalent to 1.71%.
Rubber prices in Japan remained stable in the context of weakening JPY supporting prices, but falling rubber prices in Shanghai put downward pressure.
The Chinese market continues the zero Covid campaign, so the slow purchasing power makes the domestic market pepper price decrease compared to the first quarter of 2022.
Concerns about rubber demand in the top buyer - China - slowing down, as the country faces a real estate crisis, heat waves disrupting production and Covid-19 restrictions lasting effects on industrial activity and consumption.
Indian rubber market overview
The price of natural rubber in India has basically decreased significantly in 4 weeks (as of August 26) due to the global downtrend.
The Indian market was also hit by a better-than-expected domestic supply in August as monsoon rains were weak, facilitating uninterrupted harvests.
Another reason is that the shipping industry has returned to normal and sea freight rates have plummeted, making it faster and cheaper to import natural rubber.
Amid uncertainty and concerns about shipping delays, Indian tire companies have cut natural rubber inventories to reduce inventory costs.
In addition to the unfavorable supply-demand position, a number of non-fundamental factors are impacting global market sentiment, including geopolitical tensions between China and Taiwan, and uncertainty arising from the global market. The Russian-Ukrainian war dragged on.
In addition, the unending COVID-19 lockdowns in some parts of China, the strengthening of the dollar to near two-decade highs, and the continued weakness of the currencies of other countries. Natural rubber exports are also the causes affecting the rubber market.
Cheap rubber from Ivory Coast and other African countries is also starting to impact the Indian natural rubber market and growers' incomes.
Farmers in the coastal and Malnad regions of Karnataka state have grown rubber along with areca plantations. Therefore, the decrease in rubber prices has made many people worried about the future prospects of this product.
Natural rubber is being imported by some people in the form of mixed rubber to avoid part of the tax. This has affected rubber growers as the market price of the commodity is lower than the cost of production.
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