Rubber Prices Going Up

The average annual price of natural rubber at the singapore commodity exchange one of the key global commodity.

Rubber prices going up. Prices up in kerala as demand from stockists rise. Global rubber markets news rubber prices reports rubber market analytics outlook reports daily update. Increases in rubber prices were cited as the driving factor in the price increase. Company officials were unavailable for comment at this time.

Goodyear tire rubber co. Cooper tire followed goodyear s announcement by saying that they too will be increasing their wholesale tire prices to dealers effective february 1 or soon after. Companies are blaming rising prices on higher rubber costs. Dollars per kilogram in 2019.

The market has been buoyed by yoshihide suga being confirmed as japan s first new prime minister in nearly eight years and by the bank of japan offering a slightly more upbeat view on the economy. If current inventories exceed demand the oversupply tends to drive prices lower. Japanese rubber futures traded at near three week high of 217 yen per kg after rising 5 last week the first weekly gain in three. However the price was further expected to slowly rise again up to the year 2030.

Barring unforeseen events the industry consensus is that commodity prices will be higher in 2020 led by higher natural rubber prices which will translate into higher tire prices. While the price of natural rubber continued its sharp downward trend carbon black crude oil and steel prices increased in 2019. The first is the fundamental state of a commodity market. Tire prices have been going up all year and industry watchers expect prices to continue to climb.

Natural rubber prices on september 18 2020. But if the demand is greater than supplies the inventory deficit tends to push prices higher. The average price of malaysian rubber reached about 1 64 u s. Rubber touched its strongest level for over a year on september.