World rubber price
Updated world rubber prices at 5:00 a.m. on May 29, 2024 (Vietnam time) recorded high anchor prices for all terms on all 3 exchanges.
According to experts, with the price of rubber since the beginning of the year, rubber is entering a new cycle of price increases. The main reason is due to harsh weather conditions in leading producing countries, causing tight supply.
At the Tokyo Commodity Exchange (TOCOM), RSS3 rubber prices continued to remain high, fluctuating at 333.0 - 338.5 JPY/kg.
Specifically, the RSS3 rubber futures contract price for June 2024 delivery is 333 JPY/kg. The delivery term for July 2024 is 335.4 JPY/kg. The delivery term for August 2024 is 336.3 JPY/kg. The delivery term for September 2024 is 338.5 JPY/ton. The delivery term for October 2024 is 338.5 JPY/kg.
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| RSS3 rubber price on TOCOM exchange, Tokyo. (Photo: Screenshot giacaphe.com) |
Similarly, the price of natural rubber on the Shanghai Futures Exchange (SHFE) also decreased across terms, ranging from 14,840 - 15,270 CNY/ton.
Specifically, the June 2024 delivery period increased by 1.06% to 14,840 CNY/ton. The July 2024 delivery period was 15,060 CNY/ton, up 1.86%. The August 2024 delivery period was 15,115 CNY/ton, up 1.58%. The September 2024 delivery period was 15,270 CNY/ton, up 1.87%.
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| Natural rubber prices on the SHFE exchange, Shanghai. (Photo: Screenshot giacaphe.com) |
TSR20 rubber price on the Singapore Exchange (SGX) fluctuated at 169.5 - 176.1 US cents/kg.
Accordingly, the rubber futures price for July 2024 delivery increased sharply by 2.05% to 169.5 US cents/kg compared to the end of the previous session. The August 2024 delivery period was 170.10 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%. The October 2024 delivery period was 176.1 US cents/kg, up 0.46%.
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| 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.
Natural rubber is traded on the SHFE - Shanghai from 10:00 to 12:30, 13:30 to 16:00, Vietnam time.
TSR20 rubber is traded on SGX - Singapore from 5:55 to 18:00, Vietnam time.
Refer to rubber latex prices in the 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 purchase price of rubber latex in the domestic market was updated at 5:00 a.m. on May 29, 2024, specifically as follows:
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| Rubber latex purchase price in the domestic market. (Screenshot chogia.vn) |
According to statistics from the General Department of Vietnam Customs, in the first 5 months of 2024, rubber export turnover is estimated at 842 million USD, up 3.9% over the same period in 2023, rubber export output is estimated at 560,000 tons, down 4.6% over the same period in 2023. Rubber product export turnover alone is estimated at 480 million USD, up 14% over the same period in 2023.
According to the latest report of the Association of Natural Rubber Producing Countries (ANRPC), global natural rubber production in March 2024 reached 751,000 tons, down 4.5% compared to February 2024, but up 3.4% compared to March 2023. Meanwhile, natural rubber consumption is expected to reach 1.29 million tons, down 8% compared to February 2024, but up 2.9% compared to March 2023.
Taking advantage of the high rubber price, Vietnamese rubber processing and exporting enterprises have also quickly outlined new strategies to promote the production and consumption of rubber products. At the same time, many strategies have been implemented to diversify products as well as apply technology to enhance the competitive advantage of Vietnamese rubber.
Source: https://congthuong.vn/gia-cao-su-ngay-2952024-tang-phi-ma-truoc-lo-ngai-nguon-cung-giam-322909.html
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