RUBBER PRICE UPDATE ON AUG 16TH

Global rubber market

At the Tokyo Commodity Exchange (TOCOM), the closing rubber price for August 2021 delivery on the Osaka exchange was 210.9 Yen/kg.

In September 2021, rubber price reached 214.7 Yen/kg, up 2 Yen compared to the previous session; 10/2021 term reached 217.3, up 3 Yen compared to the previous session.

At Shanghai Futures Exchange (SHFE), the closing rubber price for delivery in August 2021 was 13,430 yuan/ton.

In September 2021 term, rubber price reached 13,615 yuan/ton, up 90 yuan from the previous transaction, and up 13,700 yuan/ton in October 2021 term at, up 90 yuan compared to delivery previous translation.

In the Asian market, rubber prices increased again due to improved demand in China, India, the US, and Europe due to the recovery of the global economy.

Meanwhile, the rubber supply is being affected by the Covid-19 pandemic since the logistics industry has been globally disrupted. 

According to experts, the spread of the Delta variant in Southeast Asia and the prediction of increasing natural rubber supply in July and August 2021 may affect rubber prices soon.

>> Click HERE for the best rubber chemicals on the market<<

Domestic rubber price

According to the survey, the fresh rubber latex price today in Binh Phuoc ranges from 310 - 335 VND/degree of latex.

The rubber price of Phu Rieng Rubber Company (Binh Phuoc) is listed at 325 VND/grade of latex.

In Dak Lak, latex price was recorded at 16,000-18,000 VND/kg depending on the type.

According to the General Department of Customs, the export of rubber products in the first 6 months of 2021 increased sharply by 66.8% compared to the same period in 2020, reaching 644.35 million USD.

In June 2021, rubber export reached US$ 112.95 million, down 1.6% compared to the previous month but increased strongly by 70.6% compared to the same month of 2020.

Vietnam's rubber products are exported the most to the US market, accounting for 29.2% of the country's total export turnover of this group of products, reaching nearly 188.42 million USD, a sharp increase of 92.5%. compared with the same period in 2020; In particular, in June 2021, exports to this market reached 34.52 million USD, up 4.5% compared to May 2021 and 87.5% compared to June 2020.

The Japanese market ranked second with 101.84 million USD, up 48.8%, accounting for 15.8% of the total turnover; June 2021 alone reached 17.23 million USD, an increase of 3.4% compared to May 2021 and an increase of 71.2% compared to June 2020.

Followed by the EU market with 95.19 million USD, up 73.5% over the same period, accounting for 14.8%; Rubber exports to China reached US$51.29 million, up 29.7%, accounting for 8%.

In general, the rubber export in the first 6 months of 2021 to almost all markets achieved a sharp increase in turnover compared to the same period in 2020.

 >> Click HERE for the latest market news<<

Contact

MEGA VIETNAM

Office address: Floor 2-A2-IA20, Nam Thang Long Urban Area, Pham Van Dong Street,

Dong Ngac Ward, Bac Tu Liem District, Hanoi City, Vietnam

Tel: (+84) 24 375 89089; Fax: (+84) 24 375 89 098

Website: megavietnam.vn

Hotline: 1800.577.728 Zalo: 0971.023.523