Heavy rains in Southeast Asia lead to soaring rubber prices
2021-05-20 04:02:37
Following the 65% increase in natural rubber prices last year, the cost of tires, gloves and condoms is expected to increase.
The soaring price of natural rubber is due to heavy rain in the main rubber producing areas in Southeast Asia, which made it impossible for people to tap rubber.
Rubber prices have tripled in two years, surpassing the historical record set in 1952, when the market worried about the possible spread of the Korean War and triggered panic buying.
This situation is causing manufacturers to increase prices or face downward pressure on profit margins. Major tire companies, including Bridgestone, Michelin, Goodyear and Continental, have increased prices by 5%-15% this year, and some companies have announced new A round of price increases.
The Continental Group will raise the price by 5% from the beginning of next year on the grounds that "the current price of the main natural rubber used in the production of automobile tires is too high."
Goodyear announced last week that despite sales hitting its highest record in two years, it still experienced a loss in the third quarter, which caused the company's stock price to fall by 12% in two trading days.
Adam Glickman of Condomania, one of the largest professional condom retailers in the United States, said condom prices have risen by 10%-20% over the past year, and manufacturers have warned of possible further increases.
The brand condom market is dominated by SSL International in London, Church & Dwight in the United States, and Ansell, an Australian listed company. SSL International owns the Durex brand and is currently being acquired by Reckitt Benckiser.
Lim Cheong Guan, executive director of the world's largest rubber gloves manufacturer, Malaysia's Top Glove, said the company was forced to raise prices "to maintain business."
According to data provided by the Rubber Research Institute, benchmark rubber Thailand's No. 3 smoke tablet (RSS3) was reported in Bangkok last week at US$4.05 per kilogram, which was slightly lower than the US$4.10 per kg in April. High Point.
Analysts expect prices to remain high. While supply is falling, demand is rebounding from the low point of the financial crisis.
According to consulting firm JD Power, global light vehicle sales will grow by 10.5% this year, while tire maker Pirelli expects truck tire sales in China and other markets to grow by more than 50% so far this year.
Jom Jacob, senior economist at the Association of Natural Rubber Producing Countries (ANPRC), predicts that tension in the rubber market will intensify. "Concerns about the supply of natural rubber may continue until the end of 2011."
The soaring price of natural rubber is due to heavy rain in the main rubber producing areas in Southeast Asia, which made it impossible for people to tap rubber.
Rubber prices have tripled in two years, surpassing the historical record set in 1952, when the market worried about the possible spread of the Korean War and triggered panic buying.
This situation is causing manufacturers to increase prices or face downward pressure on profit margins. Major tire companies, including Bridgestone, Michelin, Goodyear and Continental, have increased prices by 5%-15% this year, and some companies have announced new A round of price increases.
The Continental Group will raise the price by 5% from the beginning of next year on the grounds that "the current price of the main natural rubber used in the production of automobile tires is too high."
Goodyear announced last week that despite sales hitting its highest record in two years, it still experienced a loss in the third quarter, which caused the company's stock price to fall by 12% in two trading days.
Adam Glickman of Condomania, one of the largest professional condom retailers in the United States, said condom prices have risen by 10%-20% over the past year, and manufacturers have warned of possible further increases.
The brand condom market is dominated by SSL International in London, Church & Dwight in the United States, and Ansell, an Australian listed company. SSL International owns the Durex brand and is currently being acquired by Reckitt Benckiser.
Lim Cheong Guan, executive director of the world's largest rubber gloves manufacturer, Malaysia's Top Glove, said the company was forced to raise prices "to maintain business."
According to data provided by the Rubber Research Institute, benchmark rubber Thailand's No. 3 smoke tablet (RSS3) was reported in Bangkok last week at US$4.05 per kilogram, which was slightly lower than the US$4.10 per kg in April. High Point.
Analysts expect prices to remain high. While supply is falling, demand is rebounding from the low point of the financial crisis.
According to consulting firm JD Power, global light vehicle sales will grow by 10.5% this year, while tire maker Pirelli expects truck tire sales in China and other markets to grow by more than 50% so far this year.
Jom Jacob, senior economist at the Association of Natural Rubber Producing Countries (ANPRC), predicts that tension in the rubber market will intensify. "Concerns about the supply of natural rubber may continue until the end of 2011."
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