The forecast for domestic rubber prices on May 22, 2024 is to continue to increase because the rubber market has many positive supporting factors.

However, experts say that the world rubber price market on online trading floors will have mixed fluctuations. Rubber prices recorded in the morning trading session on May 21 on TOCOM (Tokyo) suddenly "turned red", signaling the beginning of a "downward" trend?

Previously, according to data from Trading Economics, natural rubber prices had increased by 3.85% year-to-date to $162/kg. However, since the start of the recovery on August 16, 2023, natural rubber prices have increased by 27.6%.

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World rubber prices fluctuate

Updated world rubber prices at 20:20 on May 21, 2024 (Vietnam time) at the Tokyo Commodity Exchange (TOCOM), RSS3 rubber prices suddenly "turned red", fluctuating at 320 - 322.8 JPY/kg.

Specifically, the RSS3 rubber futures contract price for May 2024 delivery was 320.3 JPY/kg, down 1.08%, equivalent to an increase of 3.5 JPY/kg compared to the end of the previous session. The June 2024 delivery period was 320 JPY/kg, down 0.99%. The July 2024 delivery period was 323.6 JPY/kg, up slightly 0.62%. The August 2024 delivery period was 321.8 JPY/ton, up 0.37%. The September 2024 delivery period was 322.8 JPY/kg, down 0.46%.

RSS3 rubber price on TOCOM exchange, Tokyo. (Photo: Screenshot giacaphe.com)

In contrast to the above developments, TSR20 rubber prices at the Singapore Exchange (SGX) were all "green", fluctuating at 169.5 - 170.8 US cents/kg.

Accordingly, the rubber futures price for June 2024 delivery increased sharply by 2.05% to 169.5 US cents/kg compared to the end of the previous session. The delivery term for July 2024 was 170.10 US cents/kg, up 1.98%. The delivery term for August 2024 was 170.8 US cents/kg, up 1.97%. The delivery term for September 2024 was 170.1 US cents/kg, up 1.97%. The delivery term for October 2024 was 172.4 US cents/kg, up 1.06%.

TSR20 rubber price on SGX exchange, Singapore. (Photo: Screenshot giacaphe.com)

RSS3 rubber is traded on the Tocom - Tokyo exchange from 11:00 to 17:15, 18:30 to 06:00 (next day), Vietnam time.

Natural rubber is traded on the SHFE - Shanghai from 10:00 to 12:30, 13:30 to 16:00, Vietnam time.

TSR20 rubber is traded on SGX - Singapore from 5:55 to 18:00, Vietnam time.

Rubber latex price in domestic market

The price of rubber latex in the Vietnamese market today is listed. (Photo: Screenshot chogia.vn)

According to the forecast of the Association of Natural Rubber Producing Countries (ANRPC), in 2024, global natural rubber output will reach 14.54 million tons, an increase of 1.6% compared to 2023.

Of which, Thailand's output is expected to decrease by 0.5%; Indonesia's by 5.1%; China's output is expected to increase by 6.9%; India's by 6%; Vietnam's by 2.9%; Malaysia's by 2.9% and other countries' by 7.3% compared to 2023.