The business forecast released by the Ministry of Commerce showed that rubber prices fell by 0.7% from June 11 to 17 due to the sharp drop in international prices, the increase in natural rubber imports and the weak downstream demand. So far, rubber prices have fallen for the tenth consecutive week. At the beginning of April, it fell by 12.2%.
Among them, the price of natural rubber generally fell, domestic 1# standard rubber, imported 3# tobacco sheet rubber decreased by 1.8% and 1.3% respectively, and the price of synthetic rubber such as butadiene rubber remained stable.
Last week, Thailand's 3# tobacco sheet rubber price was reported at US$3,100/ton, down 6.1% from the previous week and 17.9% from the beginning of May. In May, China's natural rubber imports were 180,000 tons, up 5.9% from the previous month and up 50% from the same period last year. %.
In June and July, natural rubber production in Southeast Asia continued to rise, and the market supply was sufficient. It is expected that rubber prices will continue to fall slightly in the later period.
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