CHINA IS OUT OF POWER AND CHIPS

Rubber prices tend to decrease due to the influence of the consumption power of the Chinese market
China has reduced its purchase, so from the beginning of November 2021 until now, the price of raw rubber latex across the country tends to decrease.

In Binh Phuoc, the price of raw rubber latex purchased by Phu Rieng Rubber One Member Co., Ltd is at 292-332 VND/grade, down 11 VND/latex compared to the end of October 2021.

In Dong Nai, the price of raw rubber latex is purchased at 308-315 VND/grade of latex.

In Dak Lak, the price of the first cup of latex is purchased at 16,000 - 18,000 VND/kg depending on the type. It is expected that in November 2021, the domestic price of rubber latex will fluctuate around 280-330 VND/degree of latex.

According to the Import-Export Department (Ministry of Industry and Trade), rubber prices decreased slightly mainly due to the recent slowdown in China's rubber consumption.

Currently, the country's auto industry faces the dual effects of a semiconductor chip shortage and a power supply crisis.

The production situation of China's tire industry in October 2021 showed signs of improvement, but overall the operating rate remained low compared to the same period last year.

"This may slow down Vietnam's rubber exports to this market in the last months of 2021" - the Import-Export Department forecast.

According to statistics from the General Department of Customs, in the first nine months of 2021, Vietnam exported to China 902,780 tons of rubber, worth US$1.46 billion, up 5% in volume and 35.5% in value. prices compared to the same period in 2020; the average export price reached 1,617 USD/ton, up 29% over the same period in 2020.

In which, a mixture of natural rubber and synthetic rubber accounted for 88% of the total amount of rubber exported to China, with 794,450 tons, worth $1.3 billion, up 8.6% in volume and 39% up In terms of value, the average export price reached 1,639 USD/ton, up 28% over the same period in 2020.

Notably, most types of rubber exported to China increased in both volume and value over the same period in 2020, notably: RSS1 increased by 2.100% in volume and 2.775% in value; synthetic rubber increased by 525% in volume and 405.2% in value.

China's rubber demand has a lot of impact on rubber prices

According to the Import-Export Department, China's rubber demand has continuously decreased in recent months.

According to statistics from the General Administration of Customs of China, in October 2021, China imported 512,000 tons of natural and synthetic rubber (including latex), worth $920 million, down 16.7% in volume. and 16.7% decrease in value compared to September 2021; Compared to October 2020, it decreased by 23.6% in volume and 2.9% in value, this is the 5th consecutive month that China's rubber imports decreased compared to the same period in 2020.

By the end of October 2021, China imported 5.47 million tons of rubber, worth $9.77 billion, down 9.4% in volume, but up 16.8% in value over the same period last year. 2020.

In the first 9 months of 2021, China's rubber import turnover reached US$ 9.18 billion, up 19.7% over the same period in 2020.

Vietnam is the second-largest rubber supplier to China with a turnover of 1.5 billion USD, up 37% over the same period in 2020.

Vietnam's rubber market share in China's total import value in the first nine months of 2021 accounted for 16.4%, up from 14.3% in the same period in 2020.

Về chủng loại nhập khẩu, trong 9 tháng đầu năm 2021, Trung Quốc nhập khẩu 2,69 tỷ USD cao su tự nhiên, tăng 40,6% so với cùng kỳ năm 2020. 

Vietnam is the fifth-largest natural rubber supplier to China with a turnover of 167.8 million USD, up 30.3% over the same period in 2020.

Vietnam's natural rubber market share accounted for 6.2% of China's total import value, lower than 6.7% in the first 9 months of 2020.

China also imported 3.59 billion USD of a mixture of natural rubber and synthetic rubber, up 1.4% over the same period in 2020.

Vietnam is the second-largest supplier of natural rubber and synthetic rubber to China, reaching 1.32 billion USD, up 38% over the same period in 2020.

The market share of mixed natural rubber and synthetic rubber in Vietnam accounted for 36.9% of the total import value of China's natural rubber and synthetic rubber mix, up sharply from 27.1 % in the first 9 months of 2020.

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