Rubber Spot Prices Remain High
Analysis of important influencing factors
Industry officials expect China's total rubber consumption in 2010 to reach 6.45 million tons. A senior official of the China Rubber Industry Association said that China's total rubber consumption in 2010 is expected to reach 6.45 million tons, an increase of 9.7% over last year. The secretary of the association said that natural rubber consumption is expected to increase by 3.7% to 2.8 million tons, while synthetic rubber consumption is expected to increase by 14.8% to 3.65 million tons.
Thailand's USS3 spot rubber price was steady at 118.09-118.25 baht per kilogram. Yesterday, it reported 117.80-119.09 baht per kilogram. The arrival volume decreased due to rainfall and the southern part of Thailand was on the Eid al-Adha holiday. Outside the central market, companies even purchase at around 121 baht per kilogram.
Domestic spot market, the natural rubber market in Shanghai, Yunnan standard one quoted 32,200 yuan / ton, Thailand 3 # tobacco sheet rubber offer is rare, Vietnam 3L plastic offer at 30,200 yuan / ton (excluding tax). The price of natural rubber in the Hengshui area is priced at 32,000 yuan/ton, the price of 3# tobacco sheet in Thailand is around 32,500 (excluding tax), and the price of 3L rubber in Vietnam is around 30,200 yuan/ton (excluding tax). The market situation has fallen sharply, the market is sparsely traded, merchants have no intention of low-cost shipments, and more cautiously wait and see.