22/10 RUBBER PRICES: WEEKEND RUBBER PRICES FALL DEEPLY

Rubber futures prices today fell deeply in the whole market at Shanghai Commodity Futures Exchange (SHFE) and at Tocom Exchange (Tokyo - Japan).

At the Tokyo Commodity Exchange (Tocom), the price of rubber for October delivery in October 2022 was recorded 224.2 yen/kg, down 0.85%, down 1.9 yen/kg. Rubber terms in November, December, term 1/2023, and 2/2023 all dropped sharply at nearly 2%.

On the Shanghai Commodity Futures Exchange (SHFE), the price of RSS3 rubber for November delivery stood at 11,385 yuan/ton, down 0.96%, down 110 yuan/ton.

Shanghai rubber prices today fell further in terms of January 2023, March 2023, April 2023, May 2023 at a drop of nearly 1%.

ONLINE RUBBER PRICE ON TOCOM, SHANGHAI, THAILAND FLOOR

Updated at: 22/10/2022 at 15: 06: 01

ONLINE RUBBER PRICE ON TOCOM, SHANGHAI, THAILAND FLOOR Updated at: 22/10/2022 at 15: 06: 01

In the 10 days between October 2022, rubber prices on Asian floors fluctuated strongly, prices in Japan and Shanghai increased/decreased continuously in recent sessions, but still decreased compared to the previous 10 days. 

Specifically: At the Osaka Commodity Exchange (OSE), after falling to 221 yen/kg (October 14, 2022), the price increased again in recent sessions, but still decreased compared to 10 days before. On October 18, 2022, RSS3 rubber price for delivery near term was at 226.7 yen/kg (equivalent to 1.52 USD/kg), down 0.04% compared to 10 days earlier, but increased by 6.7 % over the same period in 2021. 

Rubber prices on the Japanese market rebounded on anticipation of tight supply following negotiations by Asia's leading natural rubber producers to discuss export quotas to stabilize prices. however, the upside was limited as new Covid-19 prevention measures in China put pressure on the market.

At SHFE Shanghai, the price fluctuated strongly. After falling to 11,650 yuan/ton (October 12, 2022), prices rebounded slightly, but still fell from 10 days earlier. On October 20, 2022, the price of RSS3 rubber for delivery near term was at 11,745 yuan/ton (equivalent to 1.63 USD/ton), down 2.7% from 10 days earlier and down 14.3 % over the same period in 2021.

In Thailand, after rising to 55.6 Baht/kg (October 11, 2022), the price of natural rubber decreased again. On October 18, 2022, RSS3 rubber price offered for sale at 54.1 Baht/kg (equivalent to 1.42 USD/kg), down 1.6% compared to the previous 10 days and down 5.8% compared to the previous 10 days and the same period in 2021.

In Malaysia, in August 2022, Malaysia's natural rubber output reached 26.41 thousand tons, down 3.8% compared to July 2022 and down 15.2% compared to August 2021. In the first 8 months of 2022, Malaysia's natural rubber output reached 255.2 thousand tons, down 18.5% over the same period in 2021.

Malaysia's natural rubber exports in August 2022 reached 60.17 thousand tons, up 11.9% compared to July 2022 and up 1.7% compared to August 2021. China continues to be Malaysia's largest rubber export market, accounting for 40.5% of the country's total rubber exports; followed by Iran with 5.4%; Germany accounted for 4%; The United States accounted for 4% and Turkey accounted for 4%. Accumulated in the first 8 months of 2022, Malaysia exported 426.29 thousand tons of natural rubber, up 1.1% over the same period in 2021.

In August 2022, Malaysia imported 100.93 thousand tons of natural rubber, an increase of 46.5% compared to July 2022 and an increase of 26.6% compared to August 2021. In the first 8 months of 2022, Malaysia imported 833.68 thousand tons of natural rubber, up 2.3% over the same period in 2021.

Malaysia's domestic natural rubber consumption in August 2022 reached 32.83 thousand tons, down 6.5% compared to July 2022 and down 13.1% compared to August 2021. In the first 8 months of 2022, Malaysia's domestic natural rubber consumption reached 311.72 thousand tons, down 5.5% over the same period in 2021.

Natural rubber reserves in Malaysia by the end of August 2022 reached 209.49 thousand tons, down 8.1% compared to July 2022 and down 27.1% over the same period in 2021.

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