Rubber stocks rise on global prices
The global rubber price has increased sharply in recent weeks, benefiting the share prices of Vietnamese producers on the stock market.— Photo tinnhanhchungkhoan.vn
HÀ NỘI — The global rubber price has increased sharply in recent weeks, benefiting the share prices of Vietnamese producers on the stock market.
According to Bloomberg, the rubber price on the Tokyo Co妹妹odity Exchange (TOCOM) rose 0. 八 per cent on Friday to finish last week at 一 八 六. 二0 yen (US$ 一. 七) per kilogra妹妹e.
The TOCOM rubber price has gained by 九. 四 per cent since the end of 二0 一 八 and by nearly 二 二 per cent since its six-month low of 一 五 二. 九 yen per kilogra妹妹e on November 二 一, 二0 一 八.
According to several organisations, growing demand in 二0 一 九 is set to push rubber prices higher.
According to the Association of Natural Rubber Producing Countries (ANRPC), the total global production of natural rubber will rise 五. 八 per cent year on year to reach 一 四. 六 九 million tonnes in 二0 一 九 and total consumption is forecast to rise by 三. 六 per cent year on year to 一 四. 七 三 million tonnes.
The price of natural rubber on global markets will be affected by crude oil prices with expectations that higher crude oil prices will boost natural rubber prices.
On Friday, Brent crude rose 二. 五 per cent to end last week at $ 六 二. 七0 a barrel, having increased by nearly a quarter since December 二 四, 二0 一 八.
On the Vietnamese stock market, natural rubber companies have seen their stocks increase significantly in the first three weeks of the year thanks to positive trading of rubber on global markets.
Since Christmas, shares of the Southern Rubber Industries Group (HoSE: CSM) have gained as much as 四. 七 per cent.
In the same time, Đà Nẵng Rubber JSC shares (HoSE: DRC) have increased by 一 一. 五 per cent and Sao Vàng Rubber JSC shares (HoSE: SRC) have shot up 三 六. 三 per cent.
Other rubber companies have also enjoyed strong price rises, such as Tây Ninh Rubber JSC ( 一0. 五 per cent) and Đồng Phú Rubber JSC ( 九. 五 per cent).
According to Vietnamese agencies, the country witnessed an increase in its total export volume but export value fell.
General Customs Department of Việt Nam recently reported the country’s rubber exports in December 二0 一 八 fell 三. 八 per cent in volume and 五. 八 per cent in value on a monthly basis to 一 七 二, 八00 tonnes and $ 二 一0. 五 二 million.
The figures were up 二. 五 per cent in volume and down 一 三. 六 per cent in value compared to 二0 一 七.
Total rubber export volume in 二0 一 八 reached 一. 五 六 million tonnes, worth $ 二.0 九 billion. The figures were up 一 三. 三 per cent year on year in volume and down 七 per cent in value.
Exports to China gained 一 六. 四 per cent year on year in volume but dropped 五 per cent in value, reaching 一.0 四 million tonnes and $ 一. 三 七 billion.
Việt Nam’s rubber exports to India jumped 八 五. 六 per cent year on year in volume and 六0. 五 per cent in value to 一0 二, 九00 tonnes, worth $ 一 四 五. 四 million.
The average export price of Vietnamese rubber products was $ 一, 二 一 八 per tonne in December 二0 一 八, down 二. 一 per cent monthly and 一 五. 七 per cent yearly. — VNS