Stable in domestic market

Rubber prices today (January 2) decreased in Japan, while stable in China and Thailand. At the end of 11 months of this year, Vietnam continued to be the second largest rubber supplier to China, accounting for 18.6% of the country's market share.

World rubber price

At the close of trading on January 1, the price of RSS 3 rubber for March 2025 delivery at the Osaka Exchange (OSE), Japan, reached 375.6 yen/kg, down 0.2% (0.9 yen/kg) compared to the previous trading session.

Meanwhile, the Shanghai Commodity Exchange (SHFE) - China closed for a holiday at 17,585 yuan/ton for the January 2025 contract.

According to data released by the General Administration of Customs of China, China imported a total of 712,000 tons of natural and synthetic rubber (including latex) in November, up 3.9% compared to 685,000 tons in the same period last year and also the second consecutive month of growth for this market.

However, in the 11 months, China imported a total of 6.5 million tons of natural and synthetic rubber, down 10.1% compared to 7.3 million tons in the same period in 2023.

The largest rubber suppliers to China in the first 11 months of 2024 are still ASEAN countries such as Thailand, Vietnam, Malaysia...

Thailand ranked first with a volume of 2 million tons, worth 3.46 billion USD, down sharply by 20.6% in volume and 2.7% in value compared to the same period last year. This result caused Thailand's market share in China's total rubber imports to drop to 31.4% from 35.6% over the same period in 2023.

Vietnam ranked second in supply, reaching 1.2 million tons, worth 1.92 billion USD, down 19.6% in volume and 3.6% in value compared to the same period last year. In terms of market share, Vietnam accounted for 18.6% of China's total rubber import volume, down from 20.8% in the same period.

Similarly, the amount of rubber exported from Ivory Coast to China also decreased by 28.6%, reaching 326,900 tons; Indonesia decreased by 26.3%...

However, the amount of rubber imported from Malaysia increased by 4.9%, Russia increased by 14.3%, Myanmar increased by 21.6%, South Korea increased by 7.2%, Laos increased by 32.8%...

China has cut its rubber imports this year mainly due to high prices of the commodity, while consumer demand has slowed due to sluggish economic growth.

In the 11 months of 2024, the price of imported rubber into China reached an average of 1,736 USD/ton, an increase of 18.3% over the same period in 2023.

Of which, the import price from Thailand reached an average of 1,695 USD/ton, up 22.7%; from Vietnam reached 1,591 USD/ton, up 19.8%; from Malaysia reached 1,655 USD/ton, up 19.2%; from Russia reached 1,623 USD/ton, up 13.7%...

According to the Import-Export Department ( Ministry of Industry and Trade ), China plays an important role in the world rubber trade, especially with its huge import demand. Due to China's slowing demand, Vietnam's rubber exports have decreased significantly in recent times.

However, export value was still higher than the same period last year due to sharp increases in world rubber prices and high demand from other markets, amid a global supply shortage.

Vietnam exports to China mainly a mixture of natural rubber and raw rubber, the proportion of processed rubber exports is still very low. Therefore, rubber exporting enterprises need to have a strategy to increase the proportion of processed rubber to increase export value.

At the same time, rubber exporting enterprises need to focus on expanding their markets to reduce dependence on the Chinese market. In particular, they need to pay attention to expanding their market share in the EU market.

Domestic rubber price

In the domestic market, rubber prices continued to remain stable on the second day of the new year 2025.

Accordingly, Ba Ria Rubber Company announced the purchase price of liquid latex at 452 - 462 USD/ton; DRC coagulated latex (35 - 44%) at 13,600 VND/kg; raw latex in the range of 16,900 - 18,200 VND/kg.

Mang Yang Rubber Company quotes the purchase price of liquid latex at around 434 - 438 VND/TSC, mixed latex at 387 - 441 VND/DRC.

At Phu Rieng Rubber Company, the purchase price of mixed latex is 415 VND/DRC, and liquid latex is 465 VND/TSC.

Source: https://baodaknong.vn/gia-cao-su-hom-nay-2-1-on-dinh-tai-thi-truong-trong-nuoc-238655.html