RUBBER PRICE UPDATE TODAY JULY 16

The Asian market is getting better, Japanese rubber increased slightly after 6 consecutive falling sessions.

Global rubber price updates

At the Tokyo Commodity Exchange (TOCOM), the price of rubber for July 2021 in the Osaka exchange traded at ¥209.2/kg, up ¥0.8 compared to the previous transaction.

Futures in August 2021 reached ¥212.1/kg, increasing by ¥1.2 compared to the previous session. The September 2021 term reached ¥214.9, up ¥1.9 compared to the previous session.

At the Shanghai Futures Exchange (SHFE), the rubber price for July 2021 was at RMB13,000/ton, unchanged from the previous transaction.

August 2021 term at RMB13,310/ton, increasing by RMB120 from the previous transaction term at RMB13,365/ton.

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The downtrend in prices on Asian rubber floors in recent days is mainly due to the re-emergence of the global Covid-19 pandemic, especially the Delta variant and the vaccination rate that has not met expectations.

According to The Association of Natural Rubber Producing Countries (ANRPC), in the short term, the natural rubber market outlook has little chance of recovery due to many reasons such as Logistics disruption, freight charges increased, delayed shipping, chip shortage affected the auto industry, auto consumption slowed down, the dollar inflation, increasing natural rubber supply.

All these factors are putting pressure on the rubber market at the same time.

Global demand for natural rubber in June is estimated to be flat compared to the previous month, mainly due to weak demand in China. Preliminary data shows that the volume of rubber consumed worldwide in June 2021 has decreased compared to April 2021 by China.

Domestic rubber price updates

Rubber price today in Binh Phuoc fluctuates between VND333 - 378 VND/degree of copper/degree of latex.

Phu Rieng Rubber One Member Limited Liability Company (Binh Phuoc) listed at 350 VND/grade of latex. In Dak Lak, the price of the first cup of latex was also recorded at VND16,000-VND18,000/kg depending on the type.

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