Rubber price today May 16: Market fluctuates in opposite directions

World rubber price today May 16

On May 16, rubber prices on the world market recorded mixed developments. In China and Japan, prices fell simultaneously due to weak market sentiment. Meanwhile, Thailand recorded a slight increase.

At the end of the trading session on May 15, the price of rubber futures for May delivery on the Shanghai Exchange decreased by 0.2% to 14,900 yuan/ton. In Japan, the price of rubber on the OSE decreased by 0.6% to 320.1 yen/kg. In contrast, the price of rubber futures for June delivery in Thailand increased by 0.4% to 76.57 baht/kg.

The decline in Japan ended a 10-session winning streak. The main reasons were concerns about the unclear US-China trade tensions, falling oil prices and pressure from expectations of increased supply. According to Business Recorder, these factors made investors more cautious.

Previously, rubber prices increased sharply thanks to the agreement between the US and China to temporarily suspend tariffs for at least 90 days from May 12. However, Ms. Farah Miller, founder of data company Helixtap Technologies, said that the recent decline was mainly due to profit-taking activities when actual demand is still weak.

Another factor that is putting pressure on prices is that the leaf-shedding season in many producing regions has ended, preparing for the peak tapping period. Since April, favorable weather has helped tapping activities in major producing countries such as Thailand and Indonesia recover strongly. Rubber production is usually low from February to May, and will increase from June to September.

In another development, Bridgestone Corporation (Japan) is adjusting its operations in the US to cope with the 25% import tax on auto parts that took effect from May 3. According to the first quarter financial report released on May 15, Bridgestone will increase its production capacity in the US by 2 million units by 2027.

The plan includes investments to expand the Aiken, South Carolina, plant and improve the efficiency of the Wilson, North Carolina, plant. Both plants specialize in producing passenger car tires and truck and bus tires.

Domestic rubber price today May 16

The domestic rubber market remains stable. Large enterprises continue to maintain relatively stable purchasing prices, with no significant fluctuations recorded in recent days.

At MangYang Company, the price of latex is purchased at around 397 - 401 VND/TSC, depending on the type. Mixed latex has a price ranging from 359 - 409 VND/DRC.

Phu Rieng Rubber Company also kept prices stable, with mixed latex at 400 VND/DRC and water latex at 440 VND/TSC.

Meanwhile, Ba Ria Rubber Company applies a price of 462 VND/TSC/kg for liquid latex with a TSC of 25 to under 30. Clotted latex with a DRC of 35 - 44% is purchased at 13,600 VND/kg. The price of raw latex here ranges from 16,900 - 18,200 VND/kg.

Source: https://baoquangnam.vn/gia-cao-su-hom-nay-16-5-thi-truong-bien-dong-trai-chieu-3154882.html