Domestic market prices continue to increase

Rubber prices today, September 5, decreased on major exchanges. However, in the domestic market, prices continued to increase.

World market

At the Tokyo Commodity Exchange (TOCOM) - Japan, the price of RSS 3 rubber for December delivery continued to decrease by 2.65% in the trading session on September 5, down to 361.7 yen/kg.

Thailand's RSS 3 rubber price also decreased slightly to 91.2 baht/kg from 92.2 baht/kg of the previous trading day.

In contrast, the price of natural rubber on the Shanghai Commodity Exchange (SHFE) - China increased slightly by 0.1% (20 yuan/ton) to 14,855 yuan/ton for the September contract; increased by 0.3% to 15,005 yuan/ton for the January 2025 contract.

At domestic rubber companies, the purchase price of raw rubber latex increased to 383-405 VND/TSC.

Jom Jacob, chief analyst at What Next Rubber, an Indian rubber analysis firm, told Reuters that while supply and demand factors for natural rubber were unfavorable due to unusually heavy rains hampering harvests in Thailand, market sentiment was also affected by disappointing Chinese production data, a sharp drop in crude oil prices and a sharp decline in synthetic rubber prices.

The meteorological department of Thailand, the world's largest rubber producer and exporter, has warned of heavy rains that could cause flash floods from September 2 to 7.

Thailand exported a total of more than 2.3 million tons of natural rubber and mixed rubber in the first seven months of the year, down 12 percent year-on-year. Of this, exports to China were 1.2 million tons, down 28 percent year-on-year.

Domestic market

At domestic rubber companies, the purchase price of raw rubber latex increased to 383-405 VND/TSC.

Of which, Mang Yang Rubber Company quoted the purchase price on September 5 at 385 - 390 VND/TSC, an increase of about 8 - 10 VND/TSC compared to the beginning of August.

Ba Ria Rubber Company announced the purchase price at 395 - 405 VND/TSC, an increase of 5 VND/TSC compared to September 1. The purchase price of DRC latex from 35 to 44% is stable at 14,600 VND/kg, raw latex fluctuates from 18,100 - 19,500 VND/kg.

At the end of August, Binh Long Rubber Company quoted a purchase price of 383-393 VND/TSC, an increase from 376-386 VND/TSC at the beginning of the month.

The latest quotation of Phu Rieng Rubber Company fluctuates between 360 VND/DRC - 400 VND/TSC, an increase from the previous level of 345-390 VND/TSC.

The Import-Export Department ( Ministry of Industry and Trade ) cited data from the General Department of Customs, saying that in the first 7 months of 2024, Vietnam's rubber exports to India reached 74.27 thousand tons, worth 122.89 million USD, up 19.9% ​​in volume and 42.9% in value over the same period in 2023.

In the coming time, due to the lack of domestic supply, India is expected to increase rubber imports, thereby positively affecting Vietnam's rubber exports.

India’s rubber production has declined due to adverse weather conditions, with an estimated output of 857,000 tonnes in the 2023/24 crop year, while demand is expected to reach 1.4 million tonnes. This suggests that natural rubber imports into India will continue to increase in the coming time.

Currently, India's automobile and medical equipment manufacturing industries are recording positive growth, leading to increased demand for natural rubber.

Normally, Indian producers would ramp up rubber imports before the monsoon season hits, which makes tapping difficult. But this year, imports have been hampered by port congestion and a shortage of empty containers.

Source: https://baodaknong.vn/gia-cao-su-hom-nay-5-9-thi-truong-trong-nuoc-gia-van-tiep-tuc-xu-huong-tang-228452.html