On the morning of March 1 (according to Vietnamese time), rubber prices continued to rise sharply on the Asian floors. It is forecasted that the world demand for natural rubber in 2021 will recover thanks to the growth of the commercial vehicle segment, mainly due to the markets of emerging countries.
Rubber prices today 1/3: Continued with strong momentum from last week
At the Tokyo Commodity Exchange (TOCOM), the price of rubber delivered in February 2021 recorded a threshold of 252.8 yen / kg, an increase of 0.99% (equivalent to 2.5 yen / kg) at the time of the survey. close at 7 o’clock (Vietnam time).
At the Shanghai Commodity Futures Exchange (SHFE), the price of RSS3 rubber delivered in March 2021 adjusted to 15,785 yuan / ton, up 3.07% (equivalent to 470 yuan). with previous transaction.
In the domestic market, SVR 20 latex prices are at the lowest level of 25,206.3 VND / kg, SVR L today is 39,297.13 VND / kg, SVR GP reaches 25,677.86 VND / kg, SVR 10 latex reaches 25,318 58 VND / kg.
On Thursday last week (25/2), spot rubber prices in India recorded an uptrend at the end of the session, according to information from The Hindu Business Line.
The market opened weakly but then recovered steadily due to signals from foreign exchanges, mainly spot prices in the Bangkok market.
Traders in India said that they expect the price of sheet rubber will soon exceed 170 rupees per kg. However, according to observers, some tire companies will purchase rubber according to decentralization, so they still want to keep rubber prices at a low level.
The International Rubber Research Organization (IRSG) forecasts that world demand for natural rubber in 2021 will recover thanks to the growth of the commercial vehicle segment, mainly due to emerging markets. Demand for synthetic rubber in 2021 is forecast to increase 10.2% compared to 2020 thanks to strong demand for gloves and other products during the season. The rubber market will also be supported when oil prices rise rapidly and the dollar is weak.