December 18, 2024 | 14:47 GMT +7
Hotline: 0913.378.918
December 18, 2024 | 14:47 GMT +7
Hotline: 0913.378.918
Rubber market update today, December 18, 2024
Rubber prices on December 18 globally
On the global markets, prices on the two exchanges, Tocom and SHFE, moved in opposite directions.
At the time of the survey, the price of RSS3 at the Tokyo Commodity Exchange (TOCOM) for January 2025 delivery decreased by JPY 2.5, reaching JPY 341/kg. For March 2025 delivery, it dropped an additional JPY 1.2, to JPY 347.90/kg.
On the Shanghai Futures Exchange (SHFE), natural rubber prices for January 2025 delivery dropped significantly by JPY 445, to CNY 17,685/ton. For March 2025 delivery, the price fell by JPY 425, to CNY 17,840/ton.
Global rubber prices update on December 18, 2024
Global rubber prices are sharply declining on the SHFE (Shanghai) exchange today. According to Chinese commodity data provider Longzhong Information, the expected supply reduction and high raw material costs are supporting rubber prices. However, the lack of improvement in consumption demand has created pressure on the market.
The rubber-producing region of Yunnan in China has stopped harvesting, while production on Hainan Island has begun to decrease. In southern Thailand, production is recovering slowly as rainfall decreases.
China, the world's largest rubber consumer, will increase direct financial support for consumers and strengthen social welfare in 2025, according to state media.
Monday's data showed that China's industrial production grew slightly in November, while retail sales were disappointing.
These mixed data highlight the challenges China will face in 2025, especially with potential deterioration in trade relations with the U.S., while domestic consumption remains weak, continuing to pressure Beijing to implement more economic stimulus measures.
Chinese leaders have agreed to increase the budget deficit to 4% of GDP next year, the highest level on record.
Thus, global rubber prices on December 18, 2024, have decreased across the board compared to yesterday.
In the domestic market, rubber prices remain stable compared to yesterday.
According to the latest quoted prices, the raw material rubber at Mang Yang Company is priced between VND 434 - 438/TSC; frozen rubber is bought at around VND 387 - 441/DRC.
At Ba Ria Rubber Company, the purchase price for latex is VND 447 - 457/TSC, and frozen rubber (DRC 35-44%) is priced at VND 13,500 VND/kg; raw rubber is priced at VND 16,700 - 18,000/kg.
The most recent price list from Phu Rieng Rubber Company shows a range of VND 425/DRC for mixed rubber and VND 465/TSC for latex.
Thus, the latest domestic rubber prices on December 18, 2024, are being purchased around VND 434 - 465/TSC.
$ 1 = VND 25.161 - Source: Vietcombank.
Translated by Hoang Duy
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