RUBBER PRICE IN EARLY SEPTEMBER DROPPED, AFFECTED BY GLOBAL AUTOMOBILE MARKET

According to the Import-Export Department (Ministry of Industry and Trade), RSS3 rubber price at the Osaka Commodity Exchange (OSE), on September 8 was traded at 190.5 yen/kg (equivalent to 1.73 USD/kg), down 3.5% compared to the end of August and down 4.8% over the same period in 2020.

At the Shanghai Commodity Futures Exchange (SHFE), on September 8, the price of RSS3 rubber for October delivery was at 12,590 yuan/ton (equivalent to 2 USD/kg), down 1.8% compared to the end of August, but an increase of 8.8% over the same period in 2020.

From August 30 to September 3, natural rubber inventories based on documents at SHFE reached 192,780 tons, an increase of 4,000 tons (equivalent to an increase of more than 2%) compared to the previous week; Futures inventories came in at 225,354 tons, up 5,762 tons (or 2.6% increase) from the previous week.

Rubber price for delivery in September 2021 at SHFE since August 2021 (Unit: RMB/ton).

(Source: shfe.com.cn)

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In Thailand, prices tend to drop sharply, especially in recent sessions. On September 8, the price of RSS 3 rubber offered for sale was at 55.5 Baht/kg (equivalent to 1.7 USD/kg), down 2.4% compared to the end of August and down 3.7% over the same period of 2020.

According to the Import-Export Department, from the beginning of September until now, rubber prices in Asia tended to decline sharply due to the decline in automobile output resulted from the lack of chips on a global scale.

In the domestic market, latex price has not changed much since the beginning of September.

In Binh Phuoc, the latex price was at 308 - 315 VND/grade, stable compared to the end of August 2021. In Binh Duong, the price of raw rubber latex is purchased at 333 - 335 VND/grade of latex.

In Dong Nai, the latex price is at 321-328 VND/grade of latex. In Dak Lak, the price of the first cup of latex is at 16,000-18,000 VND/kg.

According to the Import-Export Department, the COVID-19 pandemic is affecting our country's rubber industry when a series of rubber processing and preliminary processing factories have to cut production or temporarily suspend operation. Rubber producers in Dong Nai, Binh Phuoc, Binh Duong, Tay Ninh also had to temporarily stop harvesting rubber because of social distancing.

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