RUBBER PRICE TERM 04/05: PRICE CONTINUES TO TO INCREASE

On the Tokyo Commodity Exchange (TOCOM), the rubber price for May delivery in May 2022 recorded 248.8 yen/kg, up 0.72% (equivalent to 1.8 yen/kg) at 7:20 am (Vietnam time).

Rubber price 04/05 TOCOM Photo: Rubber price on 4th May on the Tokyo Commodity Exchange (TOCOM)

On the Shanghai Commodity Futures Exchange (SHFE), the price of RSS3 rubber for delivery in May 2022 was adjusted to 12,660 yuan/ton, up 1.81% (equivalent to 225 yuan) compared to the previous transaction.

Rubber price 04/05 SHFE

Photo: Rubber price on 4th May on the Shanghai Commodity Futures Exchange (SHFE)

On Monday (May 2), the price of natural rubber increased in key markets of Kerala due to tight supply amid increased demand from domestic stockpiles. However, traders said, low demand from tire manufacturers has limited the price increase.

Thaha Mohamed, Owner of Kottayam-based Sara Traders, said that supply remains tight in Kerala - India's largest commodity-producing region due to the fact that mining has slowed down in the face of previous temperature rises and heavy rainfall now.

The auto industry is facing a variety of challenges, including high commodity costs, semiconductor shortages, a rise in COVID-19 cases, and disruptions due to the Russia-Ukraine war.

Experts said that demand for rubber from China - the largest buyer country, is likely to decline as blockade measures to limit the spread of COVID-19 have affected the overall demand for rubber products. rubber and crude oil, according to page Informist.

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