RUBBER PRICES RISE AGAIN WHEN CHINA'S ECONOMY RECOVERS

Rubber prices at Asian exchanges have recovered since July 6 when China's economy is expected to recover thanks to the economic stimulus measures of the country's government.

The Import-Export Department (Ministry of Industry and Trade) said rubber prices at Asian exchanges fell in the first few sessions of July due to concerns about the global economic recession but recovered since July 6 when China's economy is expected to recover thanks to the government's economic stimulus measures.

Specifically, at the Osaka Commodity Exchange (OSE), rubber prices increased again after falling to 253 yen/kg on July 6, but compared to the end of June, the price still decreased.

On July 8, the price of RSS3 rubber for delivery near term was at 255.4 yen/kg (equivalent to 1.9 USD/kg), down 2% compared to the end of June, but up 17.3% over the same period in 2021. 

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At the Shanghai Commodity Futures Exchange (SHFE), the price of RSS3 rubber fell to 12,470 yuan/ton on July 6, then rose slightly again.

On July 8, the price of RSS3 rubber for delivery near term was at 12,520 yuan/ton (equivalent to 1.8 USD/kg), down 1.5% compared to the end of June and down 5.7% over the same period in 2021. 

In Thailand, the RSS3 rubber price fell to 64.36 Baht/kg on July 6, then increased slightly, but compared to the end of June, the price still decreased.

On July 8, RSS3 rubber price offered for sale at 64.5 Baht/kg (equivalent to 1.8 USD/kg), down 1.4% compared to the end of June 2022, but up 13.7% compared to the same period in 2021. 

In the first 5 months of 2022, rubber exports to China accounted for 49.2% of Thailand's total rubber exports with more than 1 million tons, worth 58.86 billion Baht (equivalent to 1.62 billion USD). , up 0.8% in volume and 17% in value over the same period in 2021. 

In the Vietnam market, from the beginning of July until now, the price of raw rubber latex has not changed much. In Binh Phuoc, the price of raw rubber latex purchased by Phu Rieng Rubber Company ranges from 300-320 VND/TSC, down 3 VND/TSC compared to the end of June.

Meanwhile, in Binh Duong, the purchasing price of raw rubber latex of Phuoc Hoa Rubber Company was kept stable at 323-325 VND/TSC. In Gia Lai, the price of rubber latex was purchased by Mang Yang Rubber Company for 295-305 VND/TSC, stable compared to the end of June 2022. 

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