Rubber price today June 2: Domestic price increases and decreases in opposite directions

Rubber futures prices on the world market continued to decline, while Vietnamese rubber prices recorded mixed adjustments at some businesses.

World rubber price

At the opening of the trading session on June 2, in Thailand, the price of rubber futures for June delivery decreased by 0.2% (0.17 baht) to 73 baht/kg. Similarly, the price of rubber futures for June delivery on the OSE in Japan decreased by 0.5% (1.7 yen) to 326 yen/kg. The Chinese financial market is closed today for a holiday and will reopen tomorrow (June 3). The Kuala Lumpur rubber market is also closed today, on the occasion of the official birthday of His Majesty King Sultan Ibrahim.

Rubber prices this week are expected to continue to be affected by supply shortages due to weather conditions, fluctuations in crude oil prices and the unpredictable nature of US-China trade relations, along with China’s economic policies, according to Bernama.

Industry expert Denis Low agreed, saying that weather-related supply disruptions could add to market volatility.

“The market is cautious as producers such as Ivory Coast, Vietnam and Thailand have all entered the main production phase, while inventories in Europe and the US remain abundant,” said Farah Miller, founder of independent rubber data company Helixtap Technologies.

As of May 28, domestic production areas and plantations in Vietnam have fully begun harvesting, according to Chinese financial website Tonghuashun Information. Rubber trees typically experience a low-yield period from February to May, before entering the peak harvest season that lasts until September.

Domestic rubber price

Domestically, some rubber enterprises have adjusted their prices for next month. Specifically, from May 30, at Phu Rieng Company, the purchase price of mixed latex is 400 VND/DRC, 5 VND/DRC lower than before; and the purchase price of liquid latex also decreased by 5 VND to 435 VND/TSC.

Similarly, at Ba Ria Rubber Company, the purchase price of liquid latex is at 410 VND/TSC degree/kg (applied to TSC degree from 25 to under 30), 10 VND/TSC higher than before; DRC coagulated latex (35 - 44%) is at 13,800 VND/kg, 300 VND higher than before; raw latex fluctuates from 17,200 - 18,500 VND/kg, 500 VND/kg higher than before.

Meanwhile, MangYang Company stabilizes the purchase price of latex at around 397 - 401 VND/TSC (type 2-type 1), and mixed latex at around 359 - 409 VND/DRC (type 2-type 1).

Source: https://baodaknong.vn/gia-cao-su-hom-nay-2-6-trong-nuoc-tang-giam-trai-chieu-254354.html