THE USA REDUCES THE AMOUNT OF RUBBER IMPORTED
There is a change in the structure of the synthetic rubber supply market of the US in the first 10 months of 2020 when Japanese synthetic rubber market share in the total US imports decreased.
EXPORTED RUBBER VOLUME INCREASES BY 2.8%, IMPORTS UP TO 45%
RUBBER PRICE IN THE ASIAN MARKET KEEPS RISING
THAILAND’S AMBITION TO ACQUIRE VIETNAM PLASTIC INDUSTRY
RUBBER EXPORT VALUES IN JANUARY 2021 INCREASED BY 140% COMPARED DEC2020
USA REDUCES THE AMOUNT OF RUBBER IMPORTED
There is a change in the structure of the synthetic rubber supply market of the US in the first 10 months of 2020 when Japanese synthetic rubber market share in the total US imports decreased.
According to the US International Trade Commission, in the first 10 months of 2020, the US imported 1.33 million tons of rubber (HS codes: 4001, 4002, 4003, 4005) that worths 2.32 billion USD, decreasing by 19.7% in volume and 25.7% in value over the same period in 2019.
The top 5 largest rubber suppliers of the US are Indonesia, Thailand, Canada, Korea, and Germany.
From January 2020 to October 2020, Vietnam is the 14th largest rubber supplier to the US with 19,640 tons and worth 28.46 million USD, decreasing by 26.5% in volume and 20.6% in value compared to the same period in 2019.
Vietnam's rubber market share in the total US rubber imports accounted for 1.47%, going down slightly by 1.61% in the first 10 months of 2019.
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Rubber supply markets for the US in October 2020
In terms of commodity structure, the US imports of natural rubber (HS code 4001) reached 664,190 tons, worth $ 978.7 million, dropping by 21.3% in volume and 23.3% in value over the same period of 2019.
The top 5 largest natural rubber suppliers for the US in the first 10 months of 2020 include Indonesia, Thailand, Ivory Coast, Liberia, and Vietnam.
In which, Vietnam is the 5th largest natural rubber supplier to the US, with 19,620 tons, worth 28.27 million USD, decreasing by 26.4% in volume and 20.7% in value compared to the same period of 2019.
Vietnam's market share of natural rubber in total US imports accounted for 2.96%, slightly down from 3.16% in the first 10 months of 2019.
In addition, in the first 10 months of 2020, the US imported 483,380 tons of synthetic rubber (HS code 4002), worth $ 924.9 million, down 18.7% in volume and 29.5% in value compared to that of the same period in 2019.
South Korea, Germany, Japan, Mexico, and France are the 5 largest synthetic rubber suppliers of the US in the first 10 months of 2020.
There is a change in the structure of the synthetic rubber supply market to the US in the first 10 months of 2020 when the Japanese synthetic rubber market share in the total US imports decreases; while the market share of South Korea, Germany, Mexico, and France increased. Vietnam's synthetic rubber only accounts for a small proportion of the total US imports.
Source: Kinhtetieudung
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