The market surged at the end of the week.

The forecast for global rubber prices on May 26, 2024, continues to show an upward trend at the end of the week. Will rubber prices in Japan also set their longest weekly increase in four months?

World rubber prices are not expected to fluctuate as sharply in the coming months as they did in the early part of the year, despite concerns about slowing demand from China. However, adverse weather conditions, particularly in leading producing countries like Thailand, will support rubber prices.

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

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World rubber prices are rising.

According to the updated world rubber prices at 8:00 PM on May 25, 2024 (Vietnam time) at the Tokyo Commodity Exchange (TOCOM), RSS3 rubber prices decreased compared to the opening session, fluctuating between 35.5 and 331 JPY/kg.

Specifically, the price of RSS3 rubber futures contracts 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 July 2024 contract was 327.2 JPY/kg, up 0.46%. The August 2024 contract was 328.3 JPY/kg, down 0.52%. The September 2024 contract was 330.6 JPY/ton, down 0.42%. The October 2024 contract was 331 JPY/kg, up or down 0.09%.

RSS3 rubber prices on the TOCOM exchange, Tokyo. (Image: Screenshot from giacaphe.com)

TSR20 rubber prices on the Singapore Exchange (SGX) rose compared to the opening session, fluctuating between 169.5 and 173.2 US cents/kg.

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

TSR20 rubber price on the SGX exchange, Singapore. (Image: Screenshot from giacaphe.com)

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

TSR20 rubber is traded on the SGX exchange in Singapore from 5:55 AM to 6:00 PM, Vietnam time.

Domestic rubber latex prices

At rubber companies, the current purchase price of raw rubber latex remains around 283-312 VND/TSC. Specifically, Phu Rieng Rubber Company maintains its purchase price at 285-305 VND/TSC, stable compared to the end of last month.

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

The price of rubber latex in the Vietnamese market today is listed. (Image: Screenshot from 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, a decrease of 37% in volume and 34% in value compared to March.

Compared to the same period last year, rubber exports decreased by 15.5% in volume and 3% in value. Demand from China – Vietnam's largest rubber consumer market – declined in April, leading to a sharp drop in rubber exports.

In the first four months of 2024, rubber exports reached 487.81 thousand tons, valued at 724.75 million USD, an increase of 4% in volume and 11% in value compared to the same period in 2023. In April, the average export price of rubber reached 1,597 USD/ton, an increase of 2.8% compared to March and 15.1% compared to April 2023.

In the first four months of 2024, the average export price of rubber reached US$1,486 per ton, an increase of 6.8% compared to the same period in 2023.

Source: Calculated from statistics of the General Department of Customs

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