RUBBER PRICE DAY 14/6: CONTINUOUS PLUNGE

At the Tokyo Commodity Exchange (TOCOM), the price of rubber for July delivery in July 2022 was recorded at 248.0 yen/kg, down 2.13% (equivalent to 5.4 yen/kg) at the survey time 12:42 (Vietnam time).

On the Shanghai Commodity Futures Exchange (SHFE), the price of RSS3 rubber for delivery in June 2022 stood at 12,600 yuan/ton, down 2.70%, down 350 yuan/ton. The price of Shanghai rubber today fell sharply in all tenors above 2%, down by more than 300 yuan/ton.

Updated at: 06/14/2022 at 12:42:01

Updated at: 06/14/2022 at 12:42:01

According to an estimate by the Import-Export Department (Ministry of Industry and Trade), Vietnam's rubber exports in May 2022 reached about 110 thousand tons, worth $181 million, a sharp increase of 40.4% in production and 27.9% in value compared to April 2022; compared to May 2021, increased by 33.1% in production and 26.4% in value. 

The average export price of rubber in May 2022 reached USD 1,645/ton, down 8.9% compared to April 2022 and down 5% compared to May 2021. In the first 5 months of 2022, rubber exports reached about 595 thousand tons, worth 1.04 billion USD, up 8.1% in volume and 12% in value over the same period in 2021. 

In the first four months of 2022, Vietnam's exported rubber products are mainly a mixture of natural rubber and synthetic rubber (HS: 400280), SVR3L, SVR10, Latex, RSS3, SVRCV60... of which , a mixture of natural rubber and synthetic rubber (HS: 400280) is the most exported item, accounting for 60.1% of the country's total rubber exports, with 291.83 thousand tons, worth 508.25 million USD, up 2.3% in production and 10.6% in value over the same period in 2021.

Exports to China accounted for 99.7% of the country's total mixture of natural and synthetic rubber exports, with 209.88 thousand tons, worth $505.99 million, up 13.6% in production and up 23.1% in value over the same period in 2021. 

In general, in the first 4 months of 2022, many types of rubber exports increased sharply in both production and value compared to the same period in 2021, notably: Synthetic rubber, mixed-rubber (HS): 4005), SVR20, Skim block, SVR10, RSS3... however, these types only account for a small proportion of Vietnam's total rubber exports. 

Regarding export prices: In the first 4 months of 2022, the average export prices of some types of rubber tend to increase compared to the same period in 2021, notably: SVR10, synthetic rubber, SVR20, SVR5…

Source: Calculation from the data of the General Department of Vietnam Customs

Source: Calculation from the data of the General Department of Vietnam Customs

In May 2022, rubber prices at key Asian exchanges fluctuated strongly, prices tended to increase again since the middle of the month due to concerns about reduced supply and increased demand.

However, in May 2022, the price of raw rubber latex across the country decreased slightly compared to the end of April 2022. In Binh Phuoc, raw rubber latex is purchased by Phu Rieng Rubber Company at the price of 305-345 VND/TCS. In Binh Duong, the purchasing price of raw rubber latex from Phuoc Hoa Rubber Company fluctuates at 340 VND/TSC. The price of rubber latex in Gia Lai was purchased by Mang Yang Rubber Company for 305-315 VND/TSC, a slight decrease compared to the end of April 2022.

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