Turn up at the end of the week

The forecast for rubber prices on May 26, 2024 in the world continues to increase in the weekend session. Will rubber prices in Japan also set the longest weekly increase in 4 months?

World rubber prices are forecast to not fluctuate as much as in the first months of the year, despite concerns that China’s rubber demand will slow down. However, the negative impact of weather on rubber supply, especially in leading producing countries such as Thailand, will be a factor supporting rubber prices.

Previously, according to data from Trading Economics, natural rubber prices had increased by 3.85% year-to-date to $162/kg. However, since the start of the recovery on August 16, 2023, natural rubber prices have increased by 27.6%.

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World rubber prices increase

Updated world rubber prices at 20:00 on May 25, 2024 (Vietnam time) at the Tokyo Commodity Exchange (TOCOM), RSS3 rubber prices decreased compared to the opening session, fluctuating at 35.5 - 331 JPY/kg.

Specifically, the price of RSS3 rubber futures contract for June 2024 delivery was 325.5 JPY/kg, down 1.06%, equivalent to an increase of 3.50 JPY/kg compared to the opening session. The delivery term for July 2024 was 327.2 JPY/kg, up 0.46%. The delivery term for August 2024 was 328.3 JPY/kg, down 0.52%. The delivery term for September 2024 was 330.6 JPY/ton, down 0.42%. The delivery term for October 2024 was 331 JPY/kg, up or down 0.09%.

RSS3 rubber price on TOCOM exchange, Tokyo. (Photo: Screenshot giacaphe.com)

TSR20 rubber price at Singapore Exchange (SGX) increased compared to the opening session, fluctuating at 169.5 - 173.2 US cents/kg.

Accordingly, the rubber futures price for July 2024 delivery increased by 2.05% to 169.5 US cents/kg compared to the opening session. The August 2024 delivery period was 170.1 US cents/kg, up 1.98%. The September 2024 delivery period was 170.8 US cents/kg, up 1.97%. The October 2024 delivery period was 171.1 US cents/kg, up 1.97%.

TSR20 rubber price on SGX exchange, Singapore. (Photo: Screenshot giacaphe.com)

RSS3 rubber is traded on the Tocom - Tokyo exchange from 11:00 to 17:15, 18:30 to 06:00 (next day), Vietnam time.

TSR20 rubber is traded on SGX - Singapore from 5:55 to 18:00, Vietnam time.

Rubber latex price in domestic market

At rubber companies, the purchase price of raw rubber latex is currently maintained at around 283 - 312 VND/TSC. Of which, Phu Rieng Rubber Company maintains the purchase price at 285 - 305 VND/TSC, stable compared to the end of last month.

Binh Long Rubber Company maintains the purchase price at 285-295 VND/TSC. Ba Ria Rubber Company maintains the purchase price at 283-293 VND/TSC. Phuoc Hoa Rubber Company maintains the purchase price at 310-312 VND/TSC.

The price of rubber latex in the Vietnamese market today is listed. (Photo: Screenshot chogia.vn)

In Vietnam, according to statistics from the General Department of Vietnam Customs, in April, rubber exports reached nearly 73.6 thousand tons, worth 117.57 million USD, down 37% in volume and 34% in value compared to March.

Compared to the same period last year, rubber export volume decreased by 15.5% and value decreased by 3%. Demand from China - Vietnam's largest rubber consuming market decreased in April. This caused rubber export activities to decrease sharply.

In the first 4 months of 2024, rubber exports reached 487.81 thousand tons, worth 724.75 million USD, up 4% in volume and 11% in value over the same period in 2023. In April, the average export price of rubber reached 1,597 USD/ton, up 2.8% over March and up 15.1% over April 2023.

In the first 4 months of 2024, the average export price of rubber reached 1,486 USD/ton, an increase of 6.8% over the same period in 2023.

Source: Calculated from statistics of General Department of Customs

Source: https://congthuong.vn/du-bao-gia-cao-su-ngay-2652024-bat-tang-vao-phien-cuoi-tuan-322302.html