January 21, 2025 | 00:10 GMT +7
Hotline: 0913.378.918
January 21, 2025 | 00:10 GMT +7
Hotline: 0913.378.918
Latest rubber market update on December 11, 2024
In the global market, prices on both the TOCOM and SHFE exchanges continue their downward trend.
At the time of the survey, the price of RSS3 on the Tokyo Commodity Exchange (TOCOM) for January 2025 delivery dropped by JPY 2.5, reaching JPY 341/kg. For March 2025 delivery, it decreased further by JPY 1.2, to JPY 347.90/kg.
On the Shanghai Futures Exchange (SHFE), the price of natural rubber for January 2025 delivery dropped by CNY 90, to CNY 18,315/ton. For March 2025 delivery, it declined slightly by CNY 130, to CNY 18,450/ton.
Global rubber prices on December 11, 2024
The trade data was released following official figures on Monday that revealed persistent deflationary pressures despite recent stimulus efforts by Beijing.
Chinese policymakers have indicated that the country will adopt a "moderately loose" monetary policy next year, marking a significant shift in stance after 14 years. This will be coupled with more proactive fiscal policies aimed at boosting economic growth.
Chinese stocks surged following the government's policy change.
Chinese authorities are expected to meet at the annual Central Economic Work Conference this week to set priorities for the year ahead.
Regarding supply, the Thai Meteorological Agency, the world’s leading rubber producer, has warned of heavy to very heavy rainfall, which may cause flash floods between December 12-16.
Thus, global rubber prices on December 11, 2024, remain slightly down compared to yesterday.
In the domestic market, rubber prices continue their upward trend compared to yesterday.
According to the latest quoted prices, raw rubber prices at Mang Yang Company range from VND 434 to VND 438/TSC; mixed frozen rubber is being bought at VND 387 to VND 441/DRC.
At Ba Ria Rubber Company, the price for raw latex is between 444 to 454 VND/TSC, while mixed frozen rubber with DRC from 35-44% is priced at VND 13,500/kg. Raw latex is priced at VND 16,700 to VND 18,000/kg.
The latest price quotes from Phu Rieng Rubber Company show mixed frozen rubber at VND 425/DRC (an increase of VND 10) and raw latex at VND 465/TSC (an increase of VND 10).
Thus, on December 11, 2024, domestic rubber prices are being purchased in the range of VND 434 to VND 455/TSC.
$ 1 = VND 25.135 - Source: Vietcombank.
Translated by Hoang Duy
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