December average RSS3 price announced by Central Rubber Market in Songkhla stood at 46.59 Baht/kg, up 0.82 % from November due to the following factors. Rains in rubber plantation areas of Thailand precluded tapping. China rubber inventory decreased by over 100,000 tons, coupled with a fire outbreak at a warehouse in Qingdao which caused a damage of 30,000 tons of rubber. Asia's top rubber producers have agreed to cut exports of 350,000 tons of natural rubber during January-March 2018 to address declining global prices. China imported 670,000 tonnes of rubber in November, up nearly 20% from a year ago. Thailand's government plans to increase rubber purchases to 50,000-80,000 tonnes per year from the current 20,000-30,000 tonnes to boost prices. OPEC and 10 non-OPEC countries agreed on 30 November to extend their agreement to collectively curb production by about 1.8 million B/D through 2018 in an effort to rebalance the global oil market. The US Senate passed Tax Cut and Reform Bill. However, a stronger yen makes yen-denominated assets less affordable when purchased in other currencies. In December 2017, China's manufacturing purchasing managers index (PMI) was 51.6 percent, a decrease of 0.2 percentage points from November.
In November, Thailand exported 376,339 tons of natural rubber (including compound rubber), up 15.64 % from October and 16.59 % yoy, generating export income of US$ 525.03 million, up 4.85 % from October and 14.66 % yoy. Overall, during January to November Thai NR exports (including compound rubber) reached 3,430,950 tons, down 0.9 % yoy. The YTD export value touched US$ 5.82 billion, up 37.64 % yoy.
In tyre sector, in November Thailand exported 10.55 million units of all tyres, up 8.20 % yoy, with the export value of US$ 397.10 million, up 27.63 % yoy. Overall, during January to November Thai exports of all tyres reached 113.75 million units, up 10.33 % yoy, generating export income of US$ 4.01 billion, up 22.88 % yoy.
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