Vietnam Traders Expect Higher Prices for Rubber Exports to China from Mid-April
Vietnamese traders Friday forecast that prices of rubber exports to China will continue rising in the coming weeks after increasing between US$40 and US$100 per ton over the past month.
The average export prices for rubber products have risen to US$1.408/ton this week, up from US$1,362/ton a month ago, they said.
Chinese traders have been importing 450 tons of rubber each day via Luc Lam border market this week, down from 700 tons a day last month, according to a reported issued by the Trade Information Center which is managed by the Ministry of Industry and Trade.
“Vietnam’s rubber exports are falling this week because the Chinese authorities are trying to limit imports to prevent prices from rising fast,” the TIC report said.
“But we forecast that exports to China to increase soon, and will be more than 600 tons a day from mid-April because demand from Chinese companies is high, and local prices are also going up,” it added. (TIC Report)
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