According to records, rubber prices today (November 4) on the TOCOM Exchange and the Shanghai Commodity Exchange (SHFE) simultaneously decreased red, with an adjustment level of less than 1.5%.
World rubber price
At the Tokyo Commodity Exchange (TOCOM) - Japan, RSS3 rubber price continued to decrease slightly by 0.73% to 341 yen/kg for the January 2025 futures contract; for the February 2025 contract, it decreased by 1.4 yen to 344 yen/kg.
On the Shanghai Commodity Exchange (SHFE) - China, the natural rubber contract for January 2025 delivery reached 17,505 yuan/ton after decreasing 220 yuan/ton (equivalent to a decrease of 1.24%).
According to Reuters, Chinese financial information site Hexun Futures said the market has strong expectations for increased supply from overseas production areas.
Farah Miller, founder of rubber data firm Helixtap in Singapore, said raw material prices in Thailand were stabilizing, contributing to the decline this week.
“In addition, market participants are awaiting the EU parliament ’s decision on the extension of the EUDR as well as the US presidential election for further guidance.”
Meanwhile, the yen pared some of Thursday's gains, falling 0.31 percent to 152.49 yen per dollar as traders turned cautious ahead of a three-day weekend in Japan amid a slew of major risk events.
But less dovish comments from the Bank of Japan helped the currency bounce off a three-month low hit earlier this week.
A stronger yen makes assets denominated in the currency less attractive to overseas buyers.
However, on a positive note, China's manufacturing sector, the top rubber consumer, returned to growth in October as new orders rose, leading to an increase in production, indicating an improvement in the sector at the start of the final quarter.
Data from the National Bureau of Statistics of China showed that the Purchasing Managers' Index (PMI) for the manufacturing sector reached 50.1 in October, indicating expansion in manufacturing activity. From April to September, the index was consistently below 50, indicating contraction in manufacturing activity.
China's National Bureau of Statistics said the manufacturing sector recovered thanks to a series of ambitious economic stimulus measures such as interest rate cuts and easing restrictions on home purchases.
Auto sales in China have ended a five-month decline, with 1.57 million people having applied for a state subsidy of more than $2,800 per car by the end of October.
Local governments are also offering up to 20,000 yuan in additional subsidies for buyers of electric cars in programs that are set to expire at the end of this year. For the first time, Chinese carmaker BYD’s sales surpassed Tesla’s in the third quarter, reaching more than $28.2 billion.
Domestic rubber price
Domestically, rubber prices today have no new fluctuations compared to yesterday.
Phu Rieng Rubber Company quoted the price of mixed latex at 445 VND/DRC and water latex at 495 VND/TSC.
Ba Ria Rubber Company announced the purchase price of liquid latex at 465 - 475 VND/TSC; DRC coagulated latex (35 - 44%) reached 15,700 VND/kg; raw latex fluctuated at 19,500 - 21,000 VND/kg.
Similarly, the purchasing price of Mang Yang Rubber Company remained stable at 443 - 447 VND/TSC for water latex and 406 - 461 VND/DRC for mixed coagulated latex.
Source: https://baodaknong.vn/gia-cao-su-hom-nay-4-11-dong-loat-giam-do-233423.html
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