RUBBER PRICE: AUG24 UPDATE 

Global price

At the Tokyo Commodity Exchange (TOCOM), the rubber price for August 2021 delivery on Osaka market traded at 203.5 Yen/kg, up 2.5 Yen compared to the previous session.

Futures in September 2021 reached 206.0 Yen/kg, up 1.6 Yen compared to the previous session; Oct2021 term reached 209.4, up 2.7 Yen compared to the previous session.

At the Shanghai Commodity Futures Exchange (SHFE), the price of rubber for August delivery in August 2021 was recorded at 13,250 yuan/ton, down 40 yuan from the previous session.

September 2021 term at 13,355 yuan/ton, up 85 yuan from the previous transaction, October 2021 at 13,425 yuan/ton, up 80 yuan compared to the previous transaction.

Rubber prices on the Asian market increased again as demand in China, India, the US, and Europe improved thanks to the recovery of the global economy, while the Covid-19 pandemic raged in high-producing countries. Large volumes of natural rubber and disruptions to the logistics industry globally affect supply.

However, the spread of Delta variant in Southeast Asia along with the prediction of increased natural rubber supply in July and August are likely to affect rubber prices in the near term.

In the report of July 2021, the Organization of Natural Rubber Producing Countries (ANRPC) revised down its forecast for world natural rubber supply in 2021 compared to the June report, to 13.78 million tons, but still increased by 5.2% compared to 2020; while world demand for natural rubber is forecast to reach 13.9 million tons, up 7.2% compared to 2020.

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Domestic rubber price

From the beginning of August 2021 up to now, the price of raw rubber latex in Vietnam has not changed much.

According to the survey, the price of fresh rubber latex today in Binh Phuoc is purchased by traders ranging from 300 - 315 VND / degree of latex.

Phu Rieng Rubber One Member Limited Liability Company (Binh Phuoc) is listed at 325 VND/grade of latex.

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

In the first 6 months of 2021, China imported a mixture of natural rubber and synthetic rubber (HS code 400280) reaching $2.32 billion, up 8.8% over the same period in 2020.

Thailand, Vietnam, Malaysia, Myanmar, and Indonesia are the 5 largest markets supplying a mixture of natural and synthetic rubber to China.

In which, Vietnam is the second-largest supplier of natural rubber and synthetic rubber to China with US$761.02 million, up 68.9% over the same period in 2020.

The market share of mixed natural and synthetic rubber in Vietnam accounted for 32.8% of China's total import value of this type of rubber, up from 21.2% in the first 6 months of 2020.

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