The rubber market opened in the first session of the week with mixed movements. Rubber prices in China continued to increase slightly, while Japan and Thailand decreased insignificantly.
World rubber prices
Opening the first trading session of the week of February 10, the price of RSS3 rubber for the March 2025 term at the Osaka Exchange (OSE) in Japan decreased significantly to 373.8 yen/kg. Similarly in Thailand, rubber prices recorded a flat rate of about 82.49 baht/kg; and China increased by 3.5 CNY to 17,443.5 CNY/kg.
Nguồn: Sàn OSE và Hiệp hội cao su Thái Lan
In India, the National Confederation of Rubber Producers Societies (NCRPS) recently reiterated the proposal that the Government should buy rubber from farmers as a measure to improve prices, according to The Hindu newspaper. A meeting of the Federation reported that international rubber prices are currently much higher than domestic prices. In the cases, the State Government needs to participate in the market, buy rubber at a higher price and export this commodity to help farmers maintain cultivation and exploitation.
Mr. Babu Joseph, Secretary General of the Federation of National Rubber Producers Associations said that, if rubber is imported at the current international price, an additional 25% must be paid, which will result in a loss of $50 - $60. However, tire companies, especially tire manufacturers, planned to reduce domestic prices, he alleged. The current situation is that there is no demand in the domestic market, so rubber prices have dropped significantly.
On previous occasions, Government Stockpiles in the states, cooperatives, Factories under Government control had purchased rubber from the market, Mr. Joseph claimed.
In Europe, according to the latest report of the European Tire and Rubber Manufacturers Association (ETRMA) on the replacement tire market in this region, 2024 recorded notable changes compared to 2023.
Total tire volume for consumers increased by 5%, reaching 223.2 million units. Demand for all-season tires increased sharply by 16%. Besides, winter tire volume recorded an increase of 7%, summer tire volume decreased slightly by 2%.
Demand for truck and bus tires decreased by 1%, to 11.3 million units; Agricultural tires increased by 5%, reaching 716,000 units; Demand for two-wheeled tires increased by 4%, to 9 million units. These figures reflect the trend of consumers prioritizing all-season tires, while summer demand for truck and bus tires shows signs of slowing down.
Domestic rubber prices
Domestically, businesses still keep rubber prices stable. Specifically, Phu Rieng Rubber Company kept the purchase price of mixed latex unchanged at 400 VND/DRC, water latex was 440 VND/TSC, a decrease of 5 VND/TSC/DRC.
At Ba Ria Rubber Company, the latex purchasing price is stable at 409 VND/TSC/kg; DRC latex (35 - 44%) is 14,700 VND/kg; Raw latex ranges from 18,200 - 19,600 VND/kg.
At Mang Yang Rubber Company, the purchasing price of liquid latex is stable between 434 - 438 VND/TSC, mixed latex from 387 - 441 VND/DRC.
