Rubber Prices Going Up

While the price of natural rubber continued its sharp downward trend carbon black crude oil and steel prices increased in 2019.

Rubber prices going up.

As of july 2020 the price of rubber amounted to 1 48 u s. Goodyear tire rubber co. 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. Increases in rubber prices were cited as the driving factor in the price increase.

If current inventories exceed demand the oversupply tends to drive prices lower. The average price of malaysian rubber reached about 1 64 u s. 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. Rubber touched its strongest level for over a year on september.

Companies are blaming rising prices on higher rubber costs. The average annual price of natural rubber at the singapore commodity exchange one of the key global commodity. But if the demand is greater than supplies the inventory deficit tends to push prices higher. The cb trigger level is to be set everyday at the start of a clearing period i e the start of a night session at 17 00 and is based on the settlement price of the previous clearing periond or the settlement price of the preceding contract month in case of a new contract month.

Company officials were unavailable for comment at this time. Tire prices have been going up all year and industry watchers expect prices to continue to climb. Natural rubber prices on september 18 2020. 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.

The first is the fundamental state of a commodity market. Prices up in kerala as demand from stockists rise. Dollars per kilogram in 2019. 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.