Rubber prices today, September 5, decreased on major exchanges. However, in the domestic market prices continue to trend upward.
Update world rubber prices
At the Tokyo Commodity Exchange (TOCOM) - Japan, the price of RSS 3 rubber delivered in December futures continued to decrease by 2.65% in the trading session on September 5, down to 361.7 yen/kg.
Thailand's RSS 3 rubber price also decreased slightly to 91.2 Baht/kg from 92.2 Baht/kg the previous trading day.
In contrast, the price of natural rubber on the Shanghai Commodity Exchange (SHFE) - China increased slightly by 0.1% (20 yuan/ton) to 14,855 yuan/ton for monthly contracts. 9; increased by 0.3% to 15,005 yuan/ton for the contract delivered in January 2025.
Informing Reuters, Mr. Jom Jacob, chief analyst of rubber analysis company What Next Rubber in India, said that while supply and demand factors for natural rubber are not favorable due to unusually heavy rains, often causing difficulties for harvesting in Thailand, market sentiment was somewhat affected by disappointing Chinese production data, a sharp decline in crude oil prices and a deep downward trend in synthetic rubber prices. fit.
The meteorological agency of Thailand, the world's largest rubber producer and exporter, has warned of heavy rains that could cause flash floods from September 2 to 7.
Thailand exported a total of more than 2.3 million tons of natural rubber and mixed rubber in the first 7 months of the year, down 12% over the same period last year. Of which, exports to China were 1.2 million tons, down 28% over the same period.
Update domestic rubber prices
At domestic rubber companies, the purchasing price of raw rubber latex increased to 383-405 VND/TSC.
In particular, Mang Yang Rubber Company quoted the purchasing price on September 5 at 385 - 390 VND/TSC, an increase of about 8 - 10 VND/TSC compared to early August.
Ba Ria Rubber Company quoted the purchasing price at 395 - 405 VND/TSC, an increase of 5 VND/TSC compared to September 1. The purchasing price of DRC frozen latex from 35 to 44% is stable at 14,600 VND/kg, raw latex ranges from 18,100 - 19,500 VND/kg.
At the end of August, Binh Long Rubber Company quoted purchasing prices at 383-393 VND/TSC, up from 376 - 386 VND/TSC at the beginning of the month.
Phu Rieng Rubber Company's latest quote ranges from 360 VND/DRC - 400 VND/TSC, up from the previous 345-390 VND/TSC.
The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs, saying that in the first 7 months of 2024, Vietnam's rubber exports to India reached 74.27 thousand tons, worth 122.89 million USD. , up 19.9% in volume and 42.9% in value over the same period in 2023.
In the coming time, due to lack of domestic supply, it is expected that India will boost rubber imports, thereby positively affecting Vietnam's rubber exports.
Indian rubber output decreased due to adverse weather conditions, output in the 2023/24 crop year is estimated to reach 857 thousand tons, while consumption demand is up to 1.4 million tons. This shows that natural rubber imports into India will continue to increase in the near future.
Currently, India's automobile and medical equipment manufacturing industries are recording positive growth, leading to increased demand for natural rubber.
Normally, Indian manufacturers will boost rubber imports before the market enters the rainy season, making rubber exploitation difficult. But this year, import activities are facing many difficulties due to seaport congestion and lack of empty containers.
