SMALL INDUSTRY NEWS
WORLD'S GOODS HIGHLIGHTS DAY 15.03
The price of rubber futures on the Osaka Commodity Exchange (Japan) fell sharply at the end of last week, ending the consecutive price increase since the beginning of the year, when oil prices began to stabilize after rising sessions. The previous strong price caused the commodity market in general to also be affected by the increase in oil prices. Rubber futures prices traded around 240 JPY/kg (~$2,037/ton), the lowest level since February 10.
Global natural rubber prices fell sharply in the first half of March due to the impact of tensions between Russia and Ukraine
From the beginning of March 2022 until now, rubber prices at Asian exchanges have tended to decrease sharply compared to the end of February. In addition to the fact that oil prices have cooled down, geopolitical tensions between Russia and Ukraine caused a great impact on commodity demand, causing prices of many raw materials to drop in the past 2 weeks.
During this time, the natural and synthetic rubber markets will have many fluctuations if the tension between these two countries does not cool down. Russia and Ukraine are two of the world's largest consumers of rubber products. Vietnam's rubber exports to Russia will also face difficulties due to the delay in transport activities and risks in banking transactions when Western countries impose many sanctions on the system.
Russia's international transactions... The air embargo will also lead to airlines having to choose longer routes, increased costs, increased pressure on the global logistics system and commodity prices. .
Thanks to the export of medical rubber gloves, Malaysia's export turnover of rubber and rubber products will reach more than 15 billion USD in 2021, up 48% compared to 2020 and 2.5 times higher than last year. 2019 when the epidemic has not yet broken out. Malaysia's rubber industry is a prime example of the industrialization of high-quality rubber when supplying to the world market a wide range of rubber products, the most prominent of which are tires and medical rubber gloves. , with many major export markets such as the US, Germany and Japan.