December 24, 2024 | 14:32 GMT +7
Hotline: 0913.378.918
December 24, 2024 | 14:32 GMT +7
Hotline: 0913.378.918
Market update for rubber prices on December 24, 2024
On the global market, prices on both the Tocom and SHFE exchanges remain stable.
As of the latest survey, the price of RSS3 on the Tokyo Commodity Exchange (TOCOM) for January 2025 delivery decreased by JPY 2.5, reaching JPY 341/kg. The March 2025 contract dropped by JPY 1.2, at JPY 347.90/kg.
On the Shanghai Futures Exchange (SHFE), the price of natural rubber for January 2025 delivery slightly increased by CNY 30, reaching CNY 17,310/ton. The March 2025 contract rose by CNY 20, at CNY 17,420/ton.
Global rubber prices on December 24, 2024
The price increase driven by China's stimulus policies since late September has lost momentum due to weak economic fundamentals, with ongoing risks from U.S. tariffs still present.
China kept its benchmark lending rates unchanged on Friday, as persistent deflationary pressures and weak credit demand call for additional stimulus to support the economy. However, narrowing interest rate spreads and a weakening yuan have limited the ability for immediate monetary easing.
As of December 15, China's natural rubber inventory stood at 1.203 million tons, up by 39,500 tons from the previous month, a 3.4% increase.
Additionally, the market is under pressure due to the increased rubber supply, attributed to reduced rainfall in Thailand.
In November, China's passenger vehicle market showed strong production and sales results, but the commercial vehicle market remained sluggish.
Data shows that car sales in China reached 3.316 million units last month, up 11.65% year-on-year. Of this, passenger vehicle sales totalled 3 million units, increasing by 15.23% year-on-year, while commercial vehicle sales amounted to only 315,000 units, down 18.9% year-on-year.
Thus, global rubber prices on December 24, 2024, are showing mixed movements compared to yesterday.
In the domestic market, natural rubber prices have increased slightly compared to yesterday.
According to the latest quoted prices, raw rubber at Mang Yang Company ranges from VND 434 - 438/TSC, while mixed rubber is being purchased at around VND 387 - 441/DRC.
At Ba Ria Rubber Company, the price for liquid rubber is VND 452 - 462/TSC (up by VND 5), while frozen DRC rubber (35-44%) is being purchased at VND 13,600/kg (up by VND 100). Raw rubber prices are between VND 16,900 - VND 18,200/kg (up by VND 200).
The latest quoted prices from Phu Rieng Rubber Company are VND 415/DRC for mixed rubber and VND 465/TSC for liquid rubber.
Thus, the latest rubber latex price in the domestic market on December 24, 2024, is being purchased around VND 434 - 465/TSC.
$ 1 = VND 25.193 - Source: Vietcombank.
Translated by Hoang Duy
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