Rubber prices today 1/3: Continued with strong momentum from last week

Recorded at 7:00 a.m. on March 3 (in Vietnam time), the price of rubber dropped simultaneously on Asian exchanges with a high difference. This is due to the influence of the global stock decline.

Specifically, on the Osaka floor (OSE), the price of rubber for the term 6/2021 is at 258.7 JPY / kg, down 10.1 JPY compared to Tuesday. July 2021 term is 261.3 JYP / kg.

The price of rubber in June 2021 on the Shanghai floor reached 16,195 15,685 CNY / ton, down 510 CNY compared to yesterday. Term 7/2021 reached 15,690 CNY / ton.

 

The world rubber price today decreased simultaneously on the Asian floors with a high difference. Osaka Japan floor recorded the highest decline in the past month due to the impact of the decline in global shares.

 

Global equities plunged, with Asian stocks falling the most in nine months, leaving investors worried that heavy losses could trigger a sell-off of other assets.

 

Global rubber market will be supported price when oil price increases rapidly and USD weakens.

 

According to the International Rubber Research Company (IRSG), the world’s demand for natural rubber in 2021 will recover, thanks to growth in the commercial vehicle segment, mainly from the market. emerging countries.

 

In addition, demand for synthetic rubber in 2021 is also forecast to increase by 10.2% compared to 2020 thanks to a sharp increase in the demand for gloves and other products during the COVID-19 epidemic season.

 

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.

 

According to the Import and Export Department (Ministry of Industry and Trade), Vietnam’s rubber export in January 2021 reached 200,000 tons, worth $ 321 million, down 11.6% in volume and 11% in value compared to the previous year. with December 2020.

 

Notably, compared to January 2020, an increase of 119.7% in volume and an increase of nearly 142% in value, the average export price increased by 0.7% compared to December 2020 and increased by more than 10% compared to the month. 1/2020 to 1,605 USD / ton.

 

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