May average RSS3 price announced by Central Rubber Market in Songkhla stood at 72.32 Baht/kg, down 1.35 % from April due to the following factors. As to purchasing demand from China, the biggest consumer, despite purchasing inquiries, the higher-than-expected offering price was not a positive factor to stimulate the market and price. Chinese rubber stock as of 12 May climbed up to 339,940 tons from 337,906 tons in a week earlier. It was said that rubber stock in several factories stayed high while rubber price moved in high zone. Consequently, buyers waited to observe the situation. China disclosed certain sluggish figures. Chinese car production and sales in April decreased by 1.9% and 2.2% respectively due to sales tax hike and decreasing demand. However, there were certain positive factors supporting rubber price to move in a narrow range. Oklahoma WTI crude oil price soared from 46.22 dollar per barrel as of 5 May to 47.84 and 50.33 dollar per barrel as of 12 May and 19 May respectively. In addition, tight latex output was due to continued wintering season and rainfall in some parts of tapping areas. Meanwhile, new domestic and global consuming demand is likely to improve.
In April, Thailand exported 278,055 tons of natural rubber (including compound rubber), down 21.82 % from March and 12.43 % yoy, generating export income of US$ 565.08 million, down 23.13 % from March, up 37.7 % yoy. Overall, during January to April Thai NR exports (including compound rubber) reached 1,268,314 tons, down 3.48 % yoy. The YTD export value touched US$ 2.45 billion, up 63.46 % yoy.
In tyre sector, in April Thailand exported 8.6 million units of all tyres, down 1.28 % yoy, with the export value of US$ 299.63 million, up 14.92 % yoy. Overall, during January to April Thai exports of all tyres reached 38.46 million units, up 8.45 % yoy, generating export income of US$ 1.30 billion, up 23.50 % yoy.
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