Continue the huge increase?

Rubber price forecast on May 31, 2024 continues to increase strongly on all three exchanges TOCOM, Shanghai and SGX.

At the end of today's trading session, the highest prices recorded on these three exchanges were 350.8 JPY/kg, 15,685 CNY/ton, and 182.5 US cents/kg, respectively.

Notably, rubber futures prices in the Japanese market today set the longest weekly increase in 4 months, following the price trend in Thailand - the leading producer - increasing sharply, along with the weakening JPY also supporting the market.

According to information from the Import-Export Department (Ministry of Industry and Trade), in the 10 days of mid-May 2024, rubber prices on Asian exchanges increased again amid concerns about the weather in Thailand and hopes of improved demand from China.

Global natural rubber supplies are expected to increase in the coming months as farmers in major producing countries are expected to restart tapping, but unusual weather conditions and a prolonged summer could impact supplies.

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World rubber price

Updated world rubber prices at 20:20 on May 30, 2024 (Vietnam time) recorded high anchor prices for all terms on all 3 exchanges.

At the Tokyo Commodity Exchange (TOCOM), RSS3 rubber prices continued to remain high, fluctuating at 344.9 - 350.4 JPY/kg.

Specifically, the RSS3 rubber futures contract price for June 2024 delivery is 344.9 JPY/kg. The delivery term for July 2024 is 350.1 JPY/kg. The delivery term for August 2024 is 350.8 JPY/kg. The delivery term for September 2024 is 350.4 JPY/ton. The delivery term for October 2024 is 350.2 JPY/kg.

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 in terms, ranging from 15,435 - 15,685 CNY/ton.

Specifically, the June 2024 delivery period increased by 0.65% to 15,435 CNY/ton. The July 2024 delivery period is 15,520 CNY/ton, up 0.36%. The August 2024 delivery period is 15,580 CNY/ton, up 0.29%. The September 2024 delivery period is 15,685 CNY/ton, up 0.35%.

Natural rubber prices on the SHFE exchange, Shanghai. (Photo: Screenshot giacaphe.com)

TSR20 rubber price at Singapore Exchange (SGX) fluctuated at 169.5 - 182.5 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 November 2024 delivery period was 182.5 US cents/kg, up 2.07%.

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 20:20 on May 30, 2024, specifically as follows:

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.

Source: https://congthuong.vn/du-bao-gia-cao-su-ngay-3152024-tiep-tuc-muc-tang-khung-323337.html