Rubber price today 7/6: Rising sharply

Rubber prices ended the week on a positive note due to concerns that bad weather in Thailand and China would put pressure on supplies.

World market

At the end of the trading session on July 4, the price of rubber futures for July delivery on the OSE in Japan increased by 0.4% (1.2 yen) to 311.9 yen/kg. In China, the price of rubber futures for July delivery on the Shanghai Futures Exchange (SHFE) increased by 0.29% (40 yuan) to 13,985 yuan/ton. In Thailand, the price of rubber futures for August delivery decreased slightly by 0.3% (0.25 baht) to 73.11 baht/kg.

Compared to the end of last week, rubber prices in Japan, China and Thailand changed (+0.9%), (+0.1%) and (+1.9%) respectively.

Rubber price today 67 increased dramatically

Specifically, Phu Rieng Company offers to purchase mixed latex at 385 VND/DRC, and latex at 420 VND/TSC.

Thailand, the world’s top rubber producer, has been warned of heavy rains and possible flash floods from July 3 to 6, according to the country’s meteorological agency. “The accumulated rainfall is raising concerns about possible supply disruptions in key rubber growing areas,” traders told Bernama.

The trader also said market sentiment was also supported by positive economic data from the US. “The US recorded steady job growth last month, with non-farm payrolls increasing by 147,000 in June, after an upward revision of 144,000 in May,” according to data from the US Bureau of Labor Statistics.

However, gains were capped by a further decline in crude oil prices amid global economic uncertainty, as the deadline for trade talks between the US and its global partners approaches. Oil prices edged lower in Asian trade on Thursday, as the market focused on the upcoming OPEC+ meeting for signs on output, while losses were limited by additional US sanctions on Iran.

In Japan, rubber prices posted a third straight weekly gain as concerns over bad weather in Thailand and China weighed on supplies, although weak demand and high inventories continued to limit gains.

In China, the “Sanfu season,” a period of extreme heat that usually begins in mid-July and lasts until late August, has arrived unusually early this year in the eastern part of the country.

In addition to damaging crops and affecting farmers' incomes, rising temperatures could also negatively impact manufacturing hubs and disrupt operations in key port cities.

Domestic market

Specifically, Phu Rieng Company offers to purchase mixed latex at 385 VND/DRC, and latex at 420 VND/TSC.

Similarly, MangYang Company stabilizes the purchase price of latex at around 395 - 400 VND/TSC (type 2-type 1), and mixed latex at around 351 - 399 VND/DRC (type 2-type 1).

At Ba Ria Rubber Company, the purchase price of liquid latex is stable at 405 VND/TSC degree/kg (applied to TSC degree from 25 to under 30); DRC coagulated latex (35 - 44%) is at 13,500 VND/kg; raw latex remains unchanged at 17,200 - 18,500 VND/kg.

Source: https://baolamdong.vn/gia-cao-su-hom-nay-6-7-tang-bat-381329.html