📋 Tender Overview
Purchasing power continued to dominate the world raw material market in the session on August 20. At the end of the session, the MXV-Index increased by more than 0.8% to 2,909 points, extending its upward momentum into the second session. Download According to the Vietnam Commodity Exchange (MXV), at the close of yesterdays trading session, 4/5 items increased in price. Notably, the prices of two crude oil products simultaneously increased, extending the upward momentum for the 5th consecutive session. Specifically, Brent oil price was at 93.78 USD/barrel, up 2.36%, while WTI oil price increased 2.33%, to 87.83 USD/barrel. Oil prices increased mainly due to supply concerns in the context of the US threatening to tighten sanctions on Iran, transportation activities through the Strait of Hormuz continued to be disrupted and ship rental costs increased. Norways oil output decreased and low inventories at Cushing - an important storage and delivery center for WTI oil - also supported prices. Meanwhile, crude oil inventories in the US increased and refining operations improved somewhat, limiting the increase. TSR20 rubber price anchors at 9-year peak. Closing yesterdays trading session, the rubber market continued to increase slightly. RSS3 price is still anchored at the highest level in more than 5 years, while TSR20 maintains its highest level in 9 years, in the context of supply tending to tighten, while demand is still maintained. Specifically, RSS3 rubber price increased 0.59%, to 2,710 USD/ton, while TSR20 increased 1.24%, reaching 2,286 USD/ton. Download According to MXV, output in key producing countries in Southeast Asia such as Thailand, Vietnam and Indonesia is expected to gradually shrink due to seasonal factors, when the peak exploitation period is about to end at the end of September. Notably, adverse weather with intermittent rains in Thailand - the worlds largest rubber producer - continues to hinder tapping activities, putting more pressure on supply. This development may lead to a slowdown in export activities, thereby supporting natural rubber prices. In addition, tensions in the Middle East affect global oil supply, while crude oil prices remain high compared to the pre-conflict period, causing synthetic rubber production costs to increase. As synthetic rubber becomes more expensive, natural rubber has additional cost advantages, supporting demand for this commodity. Supply shortages in India also continue to support natural rubber prices. According to the All India Rubber Industry Association (AIRIA), domestic consumption demand in the 2024-2025 crop year is estimated to reach about 1.41 million tons, far exceeding domestic production capacity, with a shortfall of over 500,000 tons. To compensate for supply shortages and proactively respond to risks of climate change, logistics disruptions and geopolitical fluctuations, India is promoting diversification of purchasing networks and expanding import channels. raw materials. The increased search for imported goods increases purchasing power in the international market, thereby continuing to support rubber prices. In the domestic market, rubber latex prices yesterday moved sideways amid quiet trading. Rainy weather causes people to limit tapping, affecting the amount of goods brought to the market. Recorded in Binh Phuoc, the price of latex remains stable in the range of 515-525 VND/degree, while the price of latex remains the same at 24,000-26,000 VND/kg. The sideways trend also occurs at large enterprises: the purchasing price of liquid latex of Binh Long Rubber is anchored at 530-540 VND/degree, while the latex price of Ba Ria Rubber is at 18,100 VND/kg. See moreCOMMODITY MARKET: Covered in green, MXV-Index increased by 60 points See moreCOMMODITY MARKET: Agricultural product prices increased simultaneously, pulling MXV-Index upside down. upward direction. See more COMMODITIES MARKET: MXV-Index increased for the 5th consecutive session, surpassing the 2,800 point mark. See more COMMODITIES MARKET: MXV-Index increased for the third consecutive session, energy groups pulled the market
