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Rubber price has been up again

( Update: 30/10/2019 )

Rubber price in the session on 3/7 on the Japanese market has suddenly increased again by a series of positive news for the rubber market as the yen continued to fall against the dollar and car sales U.S. increases.

Specifically, the monthly price of rubber 12/2013 in Tokyo trading platform has increased by 1.4% to 249 yen / kg ($ 2,473 / ton), the highest level since 11/6. Meanwhile, par value to 100.86 yen yen / dollar, the lowest since at 31/5.

According to survey data, its market Autodata Corp., sales minicar in the U.S. have increased by 9.2% to 1.4 million units in June, surpassing the average forecast of 1.38 million units 10 analysts surveyed by Bloomberg earlier.

According to market experts of the Group JSC Corp. (Japan) - Mr. Takaki Shigemoto, get this unexpected result is due to the demand for tires Manufacturers My car is back with increased rates of weaker yen against the U.S. dollar is the main positive factors.

A result of two other surveys, Ford Motor Co. and Chrysler Group LLC to see, as the use of cars Types of Americans have the highest increase since 2007.

On the other hand, current supply falls at a time when the American people have to change the car plus limited fiscal policy in the economy is the world's No. 1 appeal to consumers, reflecting signs of economic recovery.

In a related development, delivered in rubber prices 1/2014 on the commodity exchanges Shanghai (China) also increased by 0.4% to 18,250 yuan / mt (approximately $ 2,975). The rubber price in Thailand market for delivery at the port (FOB) fell 1.7% to 84.65 on / kg (2.73 USD).

Currently China-largest economy is still the world's second rubber consuming country the world's largest with about 35% of world demand but mostly low-end rubber, Cheap. This is the cause of the disturbance on the market for export countries in Southeast A.

There are currently no statistics about the amount of rubber inventories in China but can estimate this number to around 350,000 tonnes.

Source:  http://vietpress.vn