Wintering, labour shifts cripple Malaysian rubber output in April

​​​​​​​Malaysia’s natural rubber industry faltered in April 2025, with production plunging to its lowest level in recent years amid deep-rooted structural challenges and seasonal headwinds. Despite the government’s sustained push to revitalise the smallholder-driven sector, a shortage of tappers and shifting rural labour priorities—particularly during the durian season—have exposed the sector’s fragility.

23 Jun 2025

Indian Natural Rubber production marginally improves, consumption down

​​​​​​​Indian rubber sector witnessed a marginal production growth of 2.1% year on year in the financial year 2024-25 (April 2024-March 2025) despite domestic NR prices hovering at higher levels, while consumption registered a marginal decline of .4% with the tire firms reporting significant margin erosion due to high raw material costs.

20 Jun 2025

Tire trade at tipping point after US Q1 import shifts

Outlook for global tire sector and tire imports to the US is turning increasingly fragile even as US motor imports have registered a steep year-on-year decline of approximately 38% in May 2025 (in number of shipments), coupled with a staggering month-on-month drop ((in number of shipments) of about 43%, as per US Customs data.

18 Jun 2025

Helixtap China report: China Rubber Market Faces Continued Headwinds

The Chinese rubber market is navigating a challenging landscape as of May 2025, marked by subdued demand, ample supply, and weak macroeconomic indicators. Despite a slight recovery in China’s PMI, manufacturing activity remains below the expansion threshold, signaling ongoing contraction. New export orders remain soft, reflecting persistent pressure on China’s industrial and tire export segments.

16 Jun 2025

EU opens tire duty probe against China, straining trade environs

Adding to prevailing trade tensions following Trump tariffs, the European Commission has launched a formal investigation into the alleged dumping of passenger-car and light-lorry tires from China. Brussels sharpens its trade defences on a complaint from the EU tire producers amid growing unease over low-cost Chinese imports.

13 Jun 2025

Cambodian tire sector propels domestic rubber amid price rally

Cambodia’s rubber and tire industry is experiencing a significant transformation in 2025, driven by surging global rubber prices, expanding domestic manufacturing, and proactive policy measures to attract foreign investment. This shift gained traction in April, with a turnaround in production, dispelling the subdued sentiment that enveloped March.

11 Jun 2025

FY 2025 Marks Shrinking Margins for Indian Tire Majors

​​​​​​​India’s top tire manufacturers closed FY 2024–25 (April 2024-March 2025) on a mixed note, as solid replacement demand and operational efficiency supported revenue growth, but profit margins buckled under sustained cost pressures. While topline performance remained broadly stable across the board, the divergence between revenue expansion and profit realization sharpened.

09 Jun 2025

Higher rubber values come in handy for Vietnam, though volume down

Vietnam’s rubber industry entered the second quarter of 2025 with growing optimism despite a transient contraction in export volumes. While production shrank as the season ended in April, export data for March and April showed contrasting dynamics.

06 Jun 2025

Sri Lanka rubber product exports skid amid concerns over US tariffs

​​​​​​​Even before the new US tariff hikes have taken effect, Sri Lanka’s rubber export sector has shown signs of strain. Earnings from tire-tube exports for March 2025 have come down by over 17% and for the first quarter, by nearly 24%, year-on-year.

04 Jun 2025

EU replacement tire market shows mixed trend amid import pressures

The European replacement tire sector has begun 2025 with mixed results, with consumer tire sales continuing their recovery trajectory, while the commercial and agricultural segments remain constrained by broader macroeconomic factors. The latest figures offer a nuanced perspective on a sector straddling post-COVID resurgence and geopolitical volatility.

02 Jun 2025

Strong monsoon over key rubber-producing nations

The 2025 South Asian monsoon season that has set in is poised to deliver above-normal rainfall across much of Southeast Asia, including rubber-producing powerhouses like Thailand, Indonesia, Vietnam, and Cambodia. This seasonal outlook carries major implications for rubber production, which relies on steady and timely rains for healthy latex flow and productivity.

30 May 2025

Supply squeeze drives up Indian latex prices, sheet range-bound

In a notable shift in India’s rubber market, latex prices are now overtaking sheet rubber, driven by a surge in demand from domestic non-tire auto and non-auto sector industries amid tightening supply. While tire manufacturers maintain guarded sheet rubber purchases, the sheet grade continues to command good prices. Meanwhile, in Kerala—India’s key rubber-producing state—farmers are actively engaged in rainguarding in preparation for the monsoon months ahead, to ensure a continued supply.

28 May 2025

Malaysia’s rubber sector in flux as Q1 2025 draws to a close

​​​​​​​Malaysia’s natural rubber (NR) sector closed the first quarter of 2025 on a note of contrasts — exhibiting a month-on-month production slump, a shift in import dynamics, a steady export portfolio led by glove demand, and stock accumulation indicating a potential supply-demand imbalance.

26 May 2025

Indian SR prices downward, but domestic demand upbeat

India's synthetic rubber (SR) market, which started 2025 on a positive note with demand picking up, witnessed a general decline in SR prices in subsequent months, mirroring the downward trend in feedstock butadiene costs that tracked falling crude oil prices. Players, while exuding satisfaction over demand in recent months, exhibited an optimistic outlook for the future with tensions easing on the tariff front, especially involving China and the US.

23 May 2025

Biden era tire emission rule in bin; USTMA welcomes it

In a significant policy shift poised to reshape the US tire industry, the US Congress has voted to repeal a Biden-era Environmental Protection Agency (EPA) rule that mandated reductions in hazardous air pollutants from rubber tire manufacturing. This move is anticipated to alleviate regulatory burdens on domestic tire producers, potentially lowering production costs and bolstering competitiveness.

21 May 2025

Indian tire majors launch ‘iSPEED’ to empower 2 lakh rubber smallholders

In a significant development aimed at strengthening India’s natural rubber ecosystem, a new initiative has been launched to enhance rubber quality in the Northeastern states, where 200,000 hectares are being brought under rubber cultivation since 2022 under Project INROAD. The new initiative is titled INROAD Skilling and Production Efficiency Enhancement Drive abbreviated iSPEED.

19 May 2025

Tariffs add to uncertainty in global tire markets

We all heard about the tariffs imposed by the new US administration, even if the detail on them is not clear, but the latest news from Europe is that the EU is going to investigate imports of tires from China for alleged dumping and subsidies.

14 May 2025

Thai rubber production to grow in 2025, but rains, prices can spoil party

Thailand’s rubber sector appears poised for modest but broad-based growth, fuelled by improved agronomic conditions and productivity gains that compensate for a slight contraction in land under harvest. However, a change in weather pattern of late undercuts this outlook.

13 May 2025

Cambodian rubber production struggles to keep pace with tire exports

A surge in domestic tire manufacturing, mainly targeted at the export market, is reshaping Cambodia’s rubber economy, but stagnant rubber production threatens to expose a critical supply gap that could undermine the sector’s ability to meet growing domestic demand. Rubber export volumes are already feeling the squeeze.

09 May 2025

EC simplifies EUDR for industry, but smallholders still a concern

The European Commission has made significant progress on its promise to streamline compliance procedures vis-à-vis the EU Deforestation Regulation (EUDR), releasing an updated EUDR Guidance Document and the fourth edition of the EUDR FAQ in April 2025. This measure is in response to long-standing demands from industry and international partners for greater clarity and efficiency and will reduce their administrative costs by nearly 30%.

07 May 2025

Malaysia betters rubber production, finds a ‘glove avenue’ in US tariff

Malaysia bettered its rubber production in the second month of this year after taking a severe beating in January due to rains. The fresh impetus has bolstered the spirits of the administration and the Malaysian Rubber Board, who are engaged in a concerted effort to boost rubber production in the country. They are harping on a long-term plan for a quantum jump in rubber production by reviving idle plantations in over 420,000 hectares held by smallholders in the country.

05 May 2025

Vietnam rubber export returns up, but products suffer in Feb

​​​​​​​Vietnam’s rubber products export sector faced renewed pressure in February 2025, as shifting global demand and market-specific headwinds weighed on performance. Looming uncertainty around the Trump administration’s tariff push, particularly targeting automobiles and components, led to buyer caution in key markets such as the US and South Korea.

28 Apr 2025

Indian rubber prices shrugging off negative Trump tariff impact

​​​​​​​The tariff fluxes triggered by Trump are having a domino effect on the Indian rubber market too, with the prices first coming under stress following the panic created by back-to-back Trump announcements on steep hikes in tariffs on China and high slabs for other nations. However, with Trump dithering of late on tariffs and the Indian stock market staging a robust performance, the rubber prices are keeping steady amid limited domestic supply and good demand.

25 Apr 2025

Lanka EDB sits with rubber product exporters to tackle US tariffs

Sri Lanka, which is one of the economies facing a profound impact of Trump’s tariff measures, has initiated steps to mitigate the impact on sectors, including rubber products exports. Though the country, too, has been able to heave a sigh of relief with a 90-day breather for reciprocal tariffs, it has decided to use the window to negotiate with the US so that the island nation’s economy does not feel the pinch.

23 Apr 2025

Farmers lock horns with scientists over rubber clone yields in India

Smallholders and estate holders alike in India’s production hub of Kerala are turning restive over the yield given by the clones used in their rubber plantations. They have now demanded the introduction of GM crops to address this and other issues faced by the farmers.

21 Apr 2025

Private firms step in as Indonesia grapples with EUDR compliance

Indonesia's rubber sector is making concerted efforts to comply with the European Union Deforestation Regulation (EUDR) and promote sustainability. While challenges persist, especially for smallholders, collaborative initiatives and technological advancements are paving the way for a more sustainable and compliant rubber industry.

16 Apr 2025

VRG Leads Rubber Growth Across Laos Plantation Heartlands

Playing a key role in regional integration and long-term socio-economic transformation in Lao border provinces, Vietnam Rubber Group (VRG) has emerged as a strategic driver of Laos’ economic growth and Laos–Vietnam economic cooperation through its investments in Laos’ rubber cultivation and processing. VRG is scaling up its operations and exploring downstream expansion in Laos

14 Apr 2025

Tariff Part II: Canada-Mexico web ensnares US; USTMA projects higher volume

​​​​​​​The U.S. auto sector is entering a phase of heightened volatility as the Trump administration moves to unwind federal incentives for electric vehicles and introduce tariffs on automotive imports. The twin policy shifts have already prompted several automakers—including Ford and GM—to delay upcoming EV launches

10 Apr 2025

EUDR may be subject to revision

The prevailing sentiment among the market participants indicates that the EUDR still lacks suitability for its intended purpose and is not adequately prepared for implementation.  Additionally, discussions are currently in progress regarding the forthcoming changes.

09 Apr 2025

UPDATED: Part I-  The impact of Trump's Tariffs now more clearer; Rubber market fretting

In the most recent chapter of the US tariff narrative, President Trump fulfilled his commitment to unveil a reciprocal tariff framework implemented on April 3. Alongside the previously established 25% tariffs on auto imports, a comprehensive 10% tariff on a wide range of goods was implemented on April 3.

07 Apr 2025

Cambodia reaps impressive rubber export returns in 2025 start

Cambodia is emerging as a leading rubber producer in Southeast Asia and is building up the downstream tire industry as well, creating a captive market for the domestically produced rubber. This may have reflected a dip in the volume of rubber exported, but in the first two months of this year, riding on higher rubber prices, the kingdom could fetch an impressively higher export value year-on-year.

04 Apr 2025

Sri Lanka rubber exports start 2025 on feeble note as US tariff threat looms

Sri Lanka, which finished 2024 on a positive note, scripting a year-on-year 7.66% increase in exports of rubber and rubber-finished products, hitting US$ 1,001.54 million, has started 2025 on a weaker note. The exports in January 2025 fell compared to January 2024, mainly owing to a fall in exports to the US, even as the Trump administration took charge with a mission to cut down imports.

02 Apr 2025

Helixtap China report: Short-term downward bias in China demand outlook amid tariff tensions

The rubber trade in China is significantly influenced by geopolitical factors, especially the current tariff disputes with the United States and the prevailing uncertainties in the global economy. In March 2025, tariffs, trade data, and inventory trends significantly influenced market sentiment, affecting both domestic and international purchasing patterns.

01 Apr 2025

Higher returns, lower volume in year beginning for Vietnam rubber

Vietnam's rubber export volume continued to register a decline at the beginning of this year, but the higher global rubber prices are able to give the country higher returns year-on-year in the first month of 2025. The Vietnam Rubber Association is not sitting back and is harping this year on improving productivity.

28 Mar 2025

UK breaks ground on first tire-to-fuel facility amid ELT export row

The United Kingdom has taken a significant step toward addressing the environmental challenges posed by waste tires. The recent groundbreaking of the nation's first fully circular tire-to-fuel facility in Sunderland marks a milestone in the UK's sustainability efforts. However, the export of waste tires to countries like India is triggering concerns.

26 Mar 2025

Indian rubber prices soar as Rubber Board prepares for EUDR

The Indian sheet rubber (RSS-4) prices crossed the magical level of INR 200/kg (US$2.32/kg) on March 19, hitting INR 202/kg on March 22, boosting the spirits of farmers and traders even as rubber production passes through the lean period due to the hot climate, but the arrival of summer rains last week in Kerala has made the farmers cheerful.

24 Mar 2025

Weather, tapper shortage weigh down Malaysia NR production

Malaysia's rubber production dipped in the first month of this year, with rains hitting tapping in several rubber-producing regions. The country is also struggling with a tapper shortage amid reliance on foreign tappers

20 Mar 2025

Yokohama shuts three plants in quick succession, relaunches another in China

​​​​​​​As the first quarter of 2025 comes to an end, the tire major Yokohama is seen downing shutters on three plants back-to-back around the globe even as it relaunches another plant in China. Its passenger car tire plant is now coming up in Hangzhou City, China, with an additional annual capacity of 3 million tires.

19 Mar 2025

IRGMA raises alarm over dumping of inferior gloves into India

The Indian Rubber Gloves Manufacturers Association (IRGMA) has raised serious concerns over the alleged dumping of substandard rubber gloves into the Indian market by foreign suppliers. In a formal complaint submitted to the Indian Central Drugs Standard Control Organization (CDSCO), under the Health Ministry, IRGMA has highlighted the influx of disposable gloves

17 Mar 2025

Plant-based butadiene emerges, thanks to Zeon and Yokohama

​​​​​​​In a joint bid to promote circular economy in the synthetic rubber spectrum, Zeon Corporation and Yokohama Rubber Co., Ltd. are set to establish a bench facility to demonstrate technology for producing butadiene from ethanol derived from plant-based and other sustainable materials with high efficiency.

14 Mar 2025

EUDR: EC mandates due diligence for all in rubber supply chain except SMEs

The European Commission has now issued a note detailing how obligations under the European Union Deforestation Regulation (EUDR) apply to various operators and traders over placing their commodities in the EU market.

13 Mar 2025

Annual tire company results show pace of change

All of the top tire makers have now released their results for the full year 2024, and the data confirms the trends in discussion throughout the last 18 months or so.

12 Mar 2025

Indonesian rubber sector falters as production, exports slide

Indonesia’s rubber industry is grappling with a protracted crisis with its output shrinking, exports declining, and processing units falling idle. Land conversion, disease, low smallholder yields, and erratic weather continue to weigh on supply. Exports have dipped for four consecutive years.

10 Mar 2025

Record revenue for Vietnam from rubber exports in 2024

Vietnam’s rubber exports crossed an unprecedented revenue milestone in 2024, raking in US$3.4 billion — its highest-ever recorded earnings. Despite a 6.2% drop in export volume compared to the previous year, rubber exports experienced an 18.2% surge in value, underscoring the impact of rising global rubber prices.

07 Mar 2025

German rubber industry in the throes of crisis as relocations loom

​​​​​​​The German rubber industry is facing mounting difficulties as production costs spike while demand slows. The latest member survey by the German Rubber Industry Association (wdk) reveals a concerning trend: industry sales declined by nearly 2% in 2024 while production fell by 3% in 2024 compared to the previous year.

06 Mar 2025

Thailand Rubber: Sri Trang makes a spectacular foray in 2024, NER too impresses

Thailand’s rubber industry witnessed a strong rebound in 2024, with leading company Sri Trang Agro-Industry Public Company Limited (STA) scripting a remarkable recovery while another major North East Rubber Public Company Limited (NER) reported a solid growth in revenue and profitability.

04 Mar 2025

Helixtap China report: Higher raw material costs drive rubber market recovery; expectation of demand revival

The rubber market is presently facing an uncertain outlook, shaped by the continuing tensions between the US and China. The ambiguity in trade relations has led to measured market fluctuations, with industry participants meticulously monitoring developments that may influence demand patterns. China, facing a reduction in domestic demand, is likely to postpone significant stimulus measures until later in the year. Market participants are currently analyzing the upcoming National People’s Congress

03 Mar 2025

Price rise keeps Indian rubber production buoyant in 2024

The calendar year (CY) 2024 saw Indian rubber production going up marginally, consumption making a negligible decline, and imports witnessing a double-digit growth owing to higher domestic NR prices prevailing during most of the year. Analysts said the price rise arrested a possible desertion of plantations by a section of smallholders.

28 Feb 2025

Cambodia wraps up 2024 with a flourish in rubber – in exports and at home

​​​​​​​Cambodia’s rubber sector experienced remarkable growth in 2024, with total export earnings from rubber latex and rubber wood surpassing US$671.78 million, a 36.48% or US$150 million increase compared to the previous year. The surge in revenue was driven largely by higher global rubber prices due to tight supply amid fairly good demand.

26 Feb 2025

Higher rubber prices continue to eat into profits of Indian tire majors

​​​​​​​The higher raw material prices in the domestic market continued to make a dent in the profit margins of the Indian tire majors in the quarter ending December 2024, but they cushioned the impact to an extent by hiking tire prices. The tire majors made guarded purchases of the raw material rubber from the domestic market.

24 Feb 2025

Heartening rubber production figures for Malaysia in 2024

Malaysia’s consistent efforts in boosting rubber production all through the past year yielded significant results with the NR output in 2024 registering an impressive 11.06% growth compared to 2023. The Malaysian natural rubber production in 2024 has gone up to 386,400 tons compared to 347,900 tons in 2023.

20 Feb 2025

Sri Lanka’s rubber product exports script steady growth in 2024

​​​​​​​Sri Lanka’s rubber industry strengthened its position in global markets in 2024, driven by rising demand for its products in the healthcare and automotive sectors. Amid shifting trade dynamics, the industry maintained steady growth in the year, driven by the forays of industrial and surgical gloves that capitalized on evolving market needs.

19 Feb 2025

Kerala rubber farmers in long-drawn price tussle with tire industry

The Indian rubber market is witnessing an interesting tug-of-war between the Kerala smallholders and tire makers, with the majority of the former holding back their sheet rubber inventory while the latter makes guarded purchases. The result is that sheet rubber prices have been hovering closely around INR 190/kg (range of -2 and +3) since the dawn of this year

17 Feb 2025

Poor OEM tire sales, robust replacement in the EU in 2024

​​​​​​​European domestic tire manufacturers staged a resilient performance in replacement tire sales in 2024 on the strength of the robust performance of consumer tires, while their original equipment tire sales fell in the year, in line with a decline in vehicle production across the EU region.

13 Feb 2025

Indian trade body greenlights ADD on Halobutyl Rubber imports

The Indian Director General of Trade Remedies (DGTR), under the Ministry of Commerce, has recommended the imposition of anti-dumping duties (ADD) on imports of Halobutyl Rubber from Japan, Russia, Singapore, the UK, and the USA. This recommendation follows a year-long investigation into the practices of dumping by these countries, initiated at the instance of Reliance Sibur Elastomers Private Limited (RSEPL).

12 Feb 2025

Japanese auto, tire firms sense opportunity as Trump clamps tariffs

​​​​​​​The imposition of tariffs by the United States under President Donald Trump and the uncertainty surrounding future trade policies have come as a mixed bag before Japanese auto and tie firms, making strategic decision-making important yet complex.

11 Feb 2025

Helixtap China report: China Navigates Uncertain Rubber Market Amid US Tariff Tensions

The current market outlook for rubber is marked by uncertainty, primarily due to escalating tensions between the US and China. The rubber market is closely observing these developments, as anticipated tariff increases could significantly impact China's export levels to the US.

07 Feb 2025

MJO to induce rains, but dry conditions likely to dominate

​​​​​​​The rubber-growing regions of Southeast Asia will mostly face dry weather in the coming month due to weak La Nina and neutral Indian Ocean Dipole (IOD) conditions, but an active Madden Julian Oscillation (MJO) has the potential to spur rain, especially in the eastern parts.

06 Feb 2025

Tariffs will affect tire industry; rubber market

Tariffs – either a beautiful word, or the overture to a global trade war, depending on who is speaking. The new administration in the White House has declared – and then delayed – 25% tariffs on its closest neighbours and biggest trading partners, Canada and Mexico. The United States has also announced 10% tariffs on all goods coming in from China, and China has responded with its own import tariffs on US-imports.

05 Feb 2025

La Nina-triggered floods make serious dent in Thai rubber production

Underscoring the fragility of rubber in the face of climate change, unseasonal rains brought in by La Nia slashed rubber production in Thailand by 30% in December 2024, shaking supply chains and livelihoods, especially in the southern hub.

03 Feb 2025

Rubber Board launches twin projects to propel Indian NR

The Rubber Board of India has announced two strategic initiatives, iSNR (Indian Sustainable Natural Rubber) and INR Konnect, aimed at securing a formidable place for Indian natural rubber on the global platform while addressing challenges in domestic production.

31 Jan 2025

IFC’s US$I25 million boost to tire manufacturing in India, Pakistan

​​​​​​​Driving transformative growth in South Asia’s tire industry, the International Finance Corporation (IFC), a member of the World Bank Group, focused on the private sector in emerging markets, is fueling new production in Pakistan and sustainable expansion in India.

27 Jan 2025

Goodyear Tire divests Dunlop in favor of Sumitomo Rubber

In a significant development in the tire sector, the Goodyear Tire and Rubber Company has signed a definitive agreement to sell the Dunlop brand to Sumitomo Rubber Industries Ltd (SRI), as part of its broader strategy to optimize its portfolio and reduce leverage, a cornerstone of its "Goodyear Forward" transformation plan.

24 Jan 2025

Malaysia firms up base in rubber with impressive Nov production

​​​​​​​Malaysia’s natural rubber (NR) sector continued its resurgence in November 2024, building on the remarkable 20.6% month-on-month production increase recorded in October. Sustained efforts to boost output have paid off, with November figures edging past October’s, highlighting the nation’s resilience and strategic measures to revitalize its rubber industry.

22 Jan 2025

Gloves power Sri Lankan rubber products export growth

Sri Lanka is making significant strides in the export of industrial and surgical gloves, which have become a cornerstone of rubber product export growth of the island nation year-on-year in the first eleven months of 2024. Though the country could make headway in rubber product exports in October, due to the poor performance of the tire sector, November exports could not match it.

20 Jan 2025

RRII and ATMA make rubber inroads in Northeast

Marking a significant breakthrough in research, the Rubber Research Institute of India (RRII) has introduced a new high-yielding rubber clone suited for the climate conditions of North-East India to boost production in the region even as the INROAD project introduced to expand rubber cultivation in the region makes remarkable headway.

17 Jan 2025

New Year marks revival in Indian Synthetic Rubber market

The Indian Synthetic Rubber (SR) sector is reviving in the New Year after the lull until early December, with downstream tire and auto sector demand picking up, leading to a markup in the prices of certain variants. The players in the sector are optimistic about the momentum persisting until the end of the financial year in March 2025.

14 Jan 2025

Experts offer insights as Vietnam joins PEFC for EUDR rubber

​​​​​​​In its efforts to align with the European Union Deforestation Regulation (EUDR), Vietnam has made significant strides through the Vietnam Forest Certification System (VFCS) and its partnership with the Programme for the Endorsement of Forest Certification (PEFC).

13 Jan 2025

‘Colorful’ 2024 for Cambodia in rubber, tire sectors

​​​​​​​Cambodia has made impressive strides in 2024, fueled by higher global rubber prices and exceptional progress in its burgeoning tire production and export industry, marking a pivotal step in its transformation into a key player in the global rubber value chain.

10 Jan 2025

Experts chart EUDR course for Vietnamese rubber at seminar

The Vietnam Rubber Seminar held on December 12, 2024, saw experts presenting their assessment of challenges facing the Vietnamese rubber sector in complying with the European Union Deforestation Regulation (EUDR). While rubber industry expert Dr. Tran Thi Thuy Hoa, during her holistic survey, offered actionable tips for Vietnamese operators to tackle EUDR, FSC Vietnam Country Manager Vu Thi Que Anh highlighted the role of FSC Certification in meeting the EU Regulation.

09 Jan 2025

Suppliers suffer as top brands make fewer tires

One of the most persistent requests to our team here at Tire Industry Research is to provide data on the actual production volumes of tire makers. We’ve given our estimates of that below, but before giving the numbers, there are a few caveats.

08 Jan 2025

Farmers launch stir phase II; Rubber Board warns of price fall

The Kerala rubber farmers have launched the second phase of their agitation to lift the NR prices above INR 200/kg level, after finding that the momentum created in the wake of their first phase of agitation has lost steam, leading to a fall in rubber prices.

06 Jan 2025

China slaps ADD on Japanese & S Korean nitrile rubber

China has decided to continue its stern measures to rein in cheaper synthetic rubber imports in a bid to protect domestic industries and domestic jobs, while Chinese firms are eyeing a larger pie of the carbon black market by boosting production.

02 Jan 2025

[Tire Market] CEAT acquires Michelin arm as latter enters SUV tire market in India

Indian tire major CEAT, which is ranked fourth behind the other Indian majors MRF, Apollo, and JK Tyres, in terms of revenue, has announced a significant acquisition worth INR 2000 crore (US$225 million). It means CEAT acquiring Michelin’s Off-Highway Tire business in construction tires and tracks along with the Camso brand in an all-cash deal that pushes its stakes in the industry further.

31 Dec 2024

Supply shortage boost likely short lived; caution prevails around 2025 rubber outlook

In light of the increased volatility observed in the rubber market throughout 2023, market participants are adopting a cautious stance, bracing for ongoing production disruptions and an uncertain demand landscape in 2025.

30 Dec 2024

Malaysia rubber production recovers in Oct, exports too impressive

After the poor show in August and September 2024, Malaysian rubber production staged a comeback in October 2024. The setbacks in August and September were due to transient factors, including weather.

27 Dec 2024

Vietnam Rubber Group (VRG) showcases its EUDR preparedness at Annual Rubber Conference

The Vietnam Rubber Group (VRG), the state-owned largest rubber group company in Vietnam, unveiled its sustainability plans, including the roadmap to adhere to EUDR, at the seminar held in connection with the Vietnam Rubber Dinner 2024 at the White Palace Convention Centre in Ho Chi Minh City on December 12.

24 Dec 2024

Elevated prices, EUDR delay make Vietnam upbeat at Rubber Dinner

Vietnam is basking in the new fortune that rubber brought during 2024 in the form of higher global prices. The mass attendance and the euphoric and celebratory mood at the annual Vietnam Rubber Dinner on December 12, 2024, were proof enough of this.

23 Dec 2024

Helixtap China report: 2025 a challenging year for China

The Chinese rubber market is navigating a complex landscape characterized by significant volatility and challenges. Despite the government's aggressive stimulus measures aimed at stabilizing the economy and boosting domestic demand, the anticipated impact has been less pronounced than expected.

20 Dec 2024

India's tire exports surge amid R&D, manufacturing boost

India's tire exports have witnessed a remarkable 11.7% year-on-year growth during the first half (April-September) of FY 2024-25, reaching INR 12,131 crore in value owing to sustained investments in domestic R&D and manufacturing capabilities and a favorable global demand along with anticipated monetary easing.

19 Dec 2024

Vietnam sitting pretty as global prices paint a rosy October

Vietnam is having a whale of a time in rubber exports, with the spiked global prices giving handsome returns to the farmers and exporters in October 2024, too, in stark contrast to what 2023 and the early months of 2024 delivered.

16 Dec 2024

ELTs undertake an impressive ‘sustainable march’ in the US

The US tire industry is making significant strides in sustainability by substantially reducing the threat from end-of-life tires to the environment. The biannual End-of-Life Tire Management Report 2023 released by the US Tire Manufacturers Association (USTMA) recently revealed that 79% of end-of-life tires generated by the industry in the country are being consumed by end-use markets.

13 Dec 2024

Rains continue to pummel SL rubber, percolate to downstream too

Climate change is impacting Sri Lanka’s rubber sector in a big way, with rains extending beyond September hitting production hard. The continuous decline in production in later months this year has now come to have a domino effect on rubber product exports as well.

11 Dec 2024

Farmers pull off a price hike in India amid favorable external trend

Indian rubber prices are under pressure after staging a remarkable recovery in recent weeks from a low of INR 180/kg (RSS 4) on November 1. The prices were at their highest on December 3 and 4, 2024, at INR 199/kg (RSS 4-Kottayam) but have gradually declined since to INR 196/kg at the close of December 7, as per the Rubber Board data.

09 Dec 2024

Balancing the Scales: EUDR’s Evolving Impact on the Rubber Market

How Regulatory Adjustments Are Shaping Compliance, Competitiveness, and Market Stability in 2025

06 Dec 2024

EUDR is delayed by one more year amid retraction on amendment

The implementation of the European Union Deforestation Regulation (EUDR) is now one more year away, and the European Parliament’s decision to this effect came on November 14, 2024. The European Council, on December 3, 2024, reached a provisional agreement with the European Parliament over the delay with “no changes in terms of substance.”

05 Dec 2024

Higher NR prices erode profits of Indian tire majors in Q2 FY25

Escalated raw material prices ate into the profit margin of Indian tire majors in Q2 of FY 2024-2025 (July 2024 to Sept 2024) which saw these majors resorting to largescale imports of compound rubber from Southeast Asia to cushion the impact of higher domestic NR prices.

02 Dec 2024

Helixtap China report: Declining inventory could help revive demand

The Chinese rubber market is encountering difficulties stemming from slow economic growth, insufficient stimulus measures, and the forthcoming imposition of tariffs from Western nations. The current state of domestic demand remains weak, leading to a pessimistic outlook.

29 Nov 2024

Rubber cultivation goes up in leaps and bounds in India’s Northeast

At a time when the Indian Rubber Board joins the Automotive Tyre Manufacturers Association (ATMA) to implement a five-year mission to spread rubber cultivation in 200,000 hectares in northeastern India (NE India) under the INROAD project, rubber cultivation is getting prime focus in a few NE states.

27 Nov 2024

Demand uncertainty to influence rubber markets in Q1 2025

The global rubber market will likely see demand uncertainty in the initial quarter of 2025 as market participants struggle to find any clear cues. Amid the ongoing downstream capacity expansions and cutbacks in the auto and tire sector, China stands out as a key market for rubber demand, whereas the uncertainty around the economic conditions coupled with tariff battles can be a bottleneck.

26 Nov 2024

Cambodia consolidates in rubber and tire; Jan-Sept period impressive

The higher global rubber values have come in handy for Cambodian exporters this year, even though there has been only a marginal increase in its export volume. On the other hand, Cambodia’s nascent tire production segment is showing its prowess in absorbing a significant amount of domestically produced rubber.

25 Nov 2024

Malaysian NR scene in Sept nothing to cheer about

September 2024 saw Malaysian natural rubber production suffering a significant fall while Ivory Coast’s share in imports plummeted side by side with a sharp fall in Malaysian rubber exports. The production drop has mainly been attributed to a shortage of labor and the vagaries of weather, though prices were better off.

22 Nov 2024

Ivory Coast lists four-point strategy to place its rubber globally

The third largest producer of Natural Rubber in the world, the Ivory Coast, and its key catalyst in the NR sector, the Association of Natural Rubber Professionals of Côte d'Ivoire (APROMAC), have identified four priority areas in the country’s journey forward in the rubber sector.

21 Nov 2024

Kerala smallholders turn the heat on tire makers; to cut supply

The smallholders in the key rubber-producing state of Kerala in India have decided to take head-on the downstream tire-makers over the low prices of sheet rubber, by slashing production and reining in the supply to the market.

18 Nov 2024

Tire Industry: Premium Brands Exit Small-Rim Market Amidst Rising Competition

In the last couple of weeks, we have heard announcements from Michelin and Sumitomo that they are closing passenger car tire plants in Europe and the United States, respectively. In this article, we examine some of the causes of those closures and what it might mean for the future.

15 Nov 2024

Weather favorable for rubber in Thailand but can trouble Indonesia, Vietnam

Numero uno rubber producer Thailand is expected to witness less rain in the next one month, enabling rubber production in its pockets whereas parts of Indonesia, Vietnam, Cambodia and Malaysia can receive excess rain which can have a negative impact on rubber production in these countries.

13 Nov 2024

Continental’s impressive footprint in Thailand, China set for expansion

Marking a major milestone in its Southeast Asian journey, Continental Tyres (Thailand) Co., Ltd., part of the Continental AG group, received the green signal from the Board of Investment of Thailand last month (October 2024) to invest 13 billion baht (about US$400 million) to expand its tire manufacturing facility in Rayong Province.

12 Nov 2024

UPDATE: It’s final: US ups duties on Thai TBR tire imports

The United States International Trade Commission (USITC) has confirmed the decision of the Department of Commerce to effect a significant increase in duties on truck and bus tire (TBR) imports from Thailand. The decision follows an extensive investigation that revealed these imports were being sold at less than fair value in the US market.

11 Nov 2024

Rubber industry braces for the impact of tariff crossfire

The rubber industry is currently navigating a pivotal moment in its long-term planning, following the results of the US election and the upcoming stimulus announcement from China. Escalating trade tensions between the US and China have spawned tariffs on various products from both countries.

08 Nov 2024

ANRPC joins IRRDB to call summit of scientists to battle CLS Disease

Scientists in rubber-producing countries are focusing on key measures to combat devastating diseases hitting rubber trees, and the ANRPC and IRRDB recently held a meeting of scientists of member countries at the Rubber Research Institute of India (RRII), Kottayam, Kerala, to meet this goal.

06 Nov 2024

Vietnam mints money from exports on higher NR value

The Vietnam rubber sector has successfully weathered Typhoon Yagi in September to register an increase in export volume compared to August, but the shipments in the first nine months of 2024 registered a marginal lag compared to the same period last year.

05 Nov 2024

Moment of truth looms for global rubber market – a possible glut

The current question in the rubber market watchers is of the roadmap. With some recent developments in China and the EUDR implementation, going forward is one of the things that needs to be talked about in the industry. What effect it may have on supply, demand, and, as a result, pricing?

04 Nov 2024

Indian farmers, Rubber Board warn tire-makers over price falls

The Indian Natural Rubber sector is witnessing turbulent times, with prices plunging in an unprecedented manner, prompting farmers to cry foul over what they call the machinations of the tire industry to undermine prices during the key production months.

01 Nov 2024

India launches ADD probe into NBR imports

The Directorate General of Trade Remedies (DGTR), under the Indian Commerce Ministry, has initiated an anti-dumping investigation concerning imports of Acrylonitrile Butadiene Rubber (NBR) originating in or exported from China, European Union, South Korea and Russia.

30 Oct 2024

Sri Lanka exports hit a two-year high, but rain spoils production

The spike in rainfall in August negatively impacted rubber production in Sri Lanka, which is battling the leaf spot disease in its plantations, but rubber-based industries reported the best results in exports in two years in the month. Imports of rubber from places like Vietnam and the NR inventory stockpiled from the domestic market in recent months came in handy to achieve this feat amid good demand.

28 Oct 2024

Cambodia’s brilliant surge in tire exports, impressive in rubber too

August this year marked Cambodia making a giant leap forward in car tire exports even as it continued its impressive show in rubber exports, making the southeast Asian kingdom a powerhouse in rubber and rubber products exports.

25 Oct 2024

Wetter August weighs down Malaysian NR production marginally

Malaysia’s rubber production fell marginally in August 2024 from its recent peak in July 2024. Still, the impressive figures showed that the marginal drop was mainly due to increased rain, and the country’s appetite to regain lost glory in rubber production has not waned.

24 Oct 2024

Nokian gifts Romania world’s first zero CO2 emission tire factory

Giving sustainability a big push, Finnish firm Nokian Tyres has opened the world’s first full-scale tire factory with zero CO2 emissions in Oradea, Romania, scheduling its commercial production from early 2025.

22 Oct 2024

Helixtap China report: Declining inventory point at improved demand; sustainability questionable

The TSR inventory level at SHFE is lowest since February this year indicating some revival in demand. With lack of fresh stimulus and delay in the EUDR implementation, it is likely the price would see some more downside in the coming months.

21 Oct 2024

Market commentary Snapshot: Delaying EUDR likely to bring supply glut back

The postponement of the EUDR implementation raises significant concerns within the market regarding the possibility of a surplus, particularly due to the absence of exclusivity and the likelihood of favorable weather conditions enhancing supply levels, while demand remains tepid.

18 Oct 2024

October 2024 Price Signals: Multiple Year Highs and EUDR-phoria could be curtailed in Q4 2024

In the months of September leading up to mid-October 2024, the short-term 20-day moving average (MA) remained elevated, indicating strong price momentum in the rubber markets. This sustained high suggests that the market is still reacting to supply constraints and raw material shortages despite seasonal expectations.

18 Oct 2024

Rubber Board says Q1 FY25 production near stable but ATMA disputes

The Indian NR production, consumption, and imports have not reported any substantial year-on-year difference in the first quarter of FY 2024-25 (April-June), with weather and downstream trends not reflecting any significant differences from last year, official estimates reveal.

17 Oct 2024

Indian tire players in bid to expand reach within and outside

The Indian tire spectrum is witnessing a slew of developments in expansion, sustainability, acquisition, and research and development. The footprints in these respects go past the borders, highlighting the global impact and ambition of the country's tire manufacturers.

15 Oct 2024

Malaysia raring to cross RM30 bn in rubber and products exports in 2024

Malaysia is projected to better its rubber and rubber products export performance this year compared to last year on the strength of its sterling performance in the first half of 2024 and anticipated good global market prospects in the second half of the year.

14 Oct 2024

Rubber’s dual dilemma – supply pressure amid limited demand

The ongoing rubber market conditions resemble the components of a jigsaw puzzle. The current state of the rubber market is characterized by a greater number of questions than definitive answers.

11 Oct 2024

Better days for Indian farmers as chips fall into place

The sun shines for Indian rubber farmers, especially those belonging to the traditional state of Kerala, in Q3 and Q4 of FY 2024-25. This is on account of a slew of developments in their favor, while rubber prices remain in the upper circuit despite a sliding trend in October amid pleasant weather.

10 Oct 2024

China consolidates on tires with domestic, outside forays

The Chinese emphatic march in the tire spectrum continues both within and outside the country, with two more firms unfolding steps to roll out more tires to seize their share in the growing domestic and overseas markets.

09 Oct 2024

[Op-Ed] Tire Market and the environment - Why all the fuss about 6PPD

As a community, the tire makers have formed a consortium under the United States Tire Manufacturers Association (USTMA). That consortium is investigating a series of potential alternatives, following new legislation from California that requires any company selling tires in California to either declare that they do not contain 6PPD, or demonstrate that they are seriously seeking alternatives.

08 Oct 2024

Prices dip fast in India; tire-makers suffer in first half of FY 2024-25

Indian rubber prices are sliding fast in October, although global prices hovered higher, letting Indian tire makers heave a sigh of relief, whereas farmers are a bit wary about the trend.

07 Oct 2024

Pirelli moves up the ladder in innovation, sustainability and e-mobility

In a series of smart achievements in the span of a month, Italian tire major Pirelli has now made advancements in the domains of innovation, sustainability, and avant-garde mobility. In innovation, teaming up with Bosch, Pirelli is set to revolutionize driving safety and comfort through intelligent tire technology.

04 Oct 2024

EU proposal triggers fresh talks over EUDR implementations

The European Commission has put forth a proposal to lengthen the phasing-in period for the EU Deforestation Regulation (EUDR) by an additional 12 months. This proposal has reignited the implementation conversation, particularly after the EU reaffirmed its intention to implement the EU Deforestation Regulation (EUDR) on December 30, despite significant resistance from various nations at the WTO.

03 Oct 2024

The Challenges of Rubber Production in 2024: Weather, Pricing Dynamics, and Regulatory Implications

The rubber industry has faced varying unprecedented challenges in 2024. The convergence of adverse weather conditions and fluctuating pricing dynamics, particularly in key producing countries like Thailand, has raised concerns among stakeholders. Additionally, emerging regulatory frameworks, such as the European Deforestation Regulation (EUDR), are poised to impact the industry further. This article explores the factors influencing rubber production this year and their implications for the futur

02 Oct 2024

Vietnam rubber exports bask in better returns in first eight months

Vietnam, which witnessed disruption in rubber production in September after Typhoon Yagi hit the country, fetched better value on its rubber exports in the first eight months of 2024 owing to higher global rubber prices even as the volume during the period went down year on year.

01 Oct 2024

EU conveys to WTO that it is firm on EUDR deadline

​​​​​​​Conflicting signals are emerging over the implementation of the European Deforestation Regulation (EUDR) from December 30, but the last and latest emerging signal has given indication it won’t miss the deadline.

27 Sep 2024

Major Vietnamese firms on track to meet EUDR deadline

To avoid disrupting exports to the continent, major Vietnamese rubber firms are moving to comply with the European Union Deforestation Regulation (EUDR) ahead of its December 30, 2024 deadline.

26 Sep 2024

China opens war front in halo butyl rubber trade

Amidst the anti-dumping war with Western powers, China is tightening screws on imports of halogenated butyl rubber to the country from these powers, as well as Asian entities Japan, India, and Singapore.

24 Sep 2024

Helixtap China report: Inclement weather and arbitrage buying spurs Chinese prices

Recent adverse weather conditions in both domestic and international production regions have caused notable disruptions in the supply chain for rubber raw materials, leading to a substantial rise in their prices.

23 Sep 2024

EV war hots up; China firms branch out to outside countries

​​​​​​​The ongoing trade war between China on one side and the US and the EU on the other on electric vehicles is getting rougher, with the western sides sticking to their guns. On the other hand, making it harder for China, Canada has slapped a 100% tariff on the import of Chinese EVs.

20 Sep 2024

Indian producers anticipate higher prices till December

The Indian domestic market, of late, seems to be keeping a steady track of global prices and is responding to its movements, giving signs of greater integration with the global market in a year that Indian producers feel will find rubber demand outstripping supply.

19 Sep 2024

Significant spike in Malaysia NR production in July; exports too up

Malaysia’s rubber production chugs forward on the strength of the recent uptrend in NR prices and the proactive approach of Malaysian authorities to revive the sector, with the country posting the best monthly NR production figures in recent years at 37,960 tons in July 2024.

18 Sep 2024

Indian SR market hopes for revival from good monsoon spells

Subdued demand is plaguing the Indian synthetic rubber sector due to limited domestic downstream activity and a perceived lag in downstream exports, but the excellent monsoon this time has sprouted the hopes of the players.

16 Sep 2024

Dip in Sri Lankan rubber exports in July, breakthrough in disease research

For the first time in 2024, the export earnings from rubber and rubber-finished products have shown a dip year on year in July, though overall, during the first seven months, the exports have registered progress.

13 Sep 2024

Rubber market brace for typhoon impacts; supply disrupted again

The transition to La Nina and the associated shift in weather patterns have resulted in a fresh wave of disruption and volatility across the rubber market. Following the heavy rains in Thailand, Typhoon Yagi and Mojie have severely impacted Vietnamese and Chinese rubber production.

12 Sep 2024

Myanmar in bid to deliver better NR output this fiscal

Myanmar's rubber sector continues to face a host of adverse factors, including weather fluctuations, labor shortages, political instability, economic challenges, and pests and diseases. However, the country aims to stage a smart export recovery in the current financial year.

11 Sep 2024

UK, EU squirm as Chinese tire exports to the continent go up

Europe is writhing under the impact of Chinese exports to the continent, with UK Trade Remedies Authorities recommending to the UK Government to raise the duties paid by the majority of Chinese tire exporters. ETRMA, on the other hand, has noted a steep increase in low-cost tire imports to Europe.

10 Sep 2024

Tire industry is undergoing fundamental change

Crystal balls have been cloudy for some time, but now they have gone completely opaque. Nothing in the tire industry is certain any more, except that performance requirements will increase, while resources to deliver that performance will continue to fall.

05 Sep 2024

Chinese tire majors stamp footprints across the globe

Buoyed by the rise in sales by around 25% year on year last year, the Chinese tire majors have set out on an expansionary mode this year by adding capacities and setting up plants in new regions. The prohibitive duties clamped by the US and EU on exports from Chinese soil, too, have impelled these firms to spread their wings.

05 Sep 2024

India tire exports spiral up weathering global risks

Demonstrating the resilience of India's tire industry, tire exports from India have recovered in the first quarter of FY 2024-25, increasing by 17% year-over-year to reach INR 6,219 crore. This is in contrast to the 14% decline in tire exports in the corresponding quarter of the previous year, according to data released by the Ministry of Commerce, Government of India.

04 Sep 2024

Rubber to drawing strength from supply shocks but for now

The rubber market faces a dubious path in 2024, with premium physical rubber prices expected to remain elevated in the coming weeks amid heavy rains in Thailand. However, rising competition from other regions amid tepid demand could check any price spike.

03 Sep 2024

EU rubber industry urges strategic action to reverse gear

The European rubber-based industry is facing significant challenges that have prompted key organizations to urge action at the national and continental levels. With mounting concerns about the sector's future, industry leaders urge European authorities to implement strategic measures to ensure the critical industry's sustainability and growth.

02 Sep 2024

Spurt in export returns brings cheers to Cambodia

The rubber farmers in Cambodia, who primarily export their rubber, benefit from the current surge in global rubber prices, but despite the national government's best efforts, domestic rubber consumption has not increased.

30 Aug 2024

WEATHER WATCH: More rains await Thailand, Vietnam, Cambodia

The rubber-producing regions of Thailand, Vietnam, and Cambodia are forecast to receive heavy rains, disrupting tapping in the next month, while Indonesia is projected to receive normal or slightly above normal rains until September 27.

29 Aug 2024

India Rubber Market Updates: EUDR Implementation and RSS4 Prices Stabilize

With just four months left for EUDR implementation, the Indian Rubber Board has empanelled an agency to facilitate the issuance of due diligence certificates for Natural Rubber (NR) and NR products exported to the European Union.

27 Aug 2024

Lanka in export growth as CEAT Kelani conquers new frontiers

Sri Lankan rubber and rubber products exports fared better in May and June year-on-year, compared to April 2024, but the monsoon rains that lashed the island nation impacted production in certain traditional regions. Starting in June 2024, the physical rubber market began to improve, with production recovering following seasonal leaf exfoliation.

22 Aug 2024

Helixtap China report: Short Lived arbitrage likely to keep Chinese market upbeat

A shortage in the domestic raw material market is likely to drive Chinese domestic natural rubber prices north. While this has broadened the arbitrage for international cargoes in the market, downstream demand remains tepid.

21 Aug 2024

Mixed results for Indian tire majors in Q1 FY 2024-25

The first quarter of the new financial year (FY 2024–25) ended June 30, with two top Indian tire majors witnessing a decline in their profit year on year, whereas the other two improved their performance. The differing NR inventory levels, sales performances, including exports, and the price increase the majors effected for tires led to contrasting results, according to market observers.

20 Aug 2024

Rise in rubber prices brightens up H1 returns of Vietnam

Vietnam may be reporting a drop in rubber export volume in H1 2024 year on year, but the rise in global rubber prices is lifting the spirits of the producers, with export value during the period spiraling up. Meanwhile, June 2024 reported a quantum leap in export volume and value month over month.

17 Aug 2024

Hankook lifts sales and operating profit in 2024 Q2

Hankook, a premium global tire manufacturer based in South Korea, has maintained a strong performance in Q2 2024, increasing sales by 2.4% and operating profit by 69.2% year over year.

17 Aug 2024

Malaysia NR production surges amid govt boost

The uptrend in prices seems to have reinvigorated Malaysian smallholders into rubber production, with June recording a remarkable increase compared to May. The consistent efforts of Malaysian government agencies to support smallholders in various ways, too, appear to have paid dividends.

15 Aug 2024

Exclusive: ANRPC in bid for setting Livelihood Rubber Pricing in NR

In a significant development, the Association of Natural Rubber Producing Countries (ANRPC) has constituted a Task Force on Livelihood Rubber Prices to recommend an appropriate strategy for realizing remunerative prices for natural rubber (NR) producers and to ensure the sustainable development of the rubber value chain.

12 Aug 2024

Goodyear's 2Q Sales Fall Short Amid Global Market Turmoil and Strategic Shifts

Goodyear misses 2Q revenue expectations amidst market volatility. Strategic leadership shifts aim to drive growth and innovation.

08 Aug 2024

Rubber exports surge as Cambodia tackles challenges and boosts sustainability efforts

Cambodia cruises ahead, reaping rich dividends from its efforts to increase rubber production and revenue. The first half of this year has returned impressive progress in value terms, with market prices going up year on year.

07 Aug 2024

Chinese prices set to trend lower as spillover for Indo rubber enters China market

Chinese physical rubber prices are expected to weaken as the market is likely to see the spillover of Indonesian non-EUDR-compliant rubber into the Chinese market.

06 Aug 2024

EV and rubber demand: A closer look at how recent Tariffs and Policies could impact automotive, tyre and rubber markets.

Natural rubber is emerging as a sustainable solution for EV manufacturers, reducing carbon footprints and enhancing performance. El Nino and climate change have spiked rubber futures, highlighting the material's volatility and importance.

05 Aug 2024

Strategic Shift: Goodyear's OTR Business Sold to Yokohama Amidst Strong Q2 Performance

In a significant development, the Goodyear Tire and Rubber Company has announced that it is selling its Off-the-Road (OTR) tire business to Yokohama Rubber Company Limited for US$905 million in cash while the company reversed its losses in the second quarter of this year.

02 Aug 2024

Concerns of potential global auto market downturn could impact rubber trade flow

The rush for EUDR-compliant rubber by global rubber consumers is significantly shaping the rubber sector. The mixed sentiment of the EU auto sector, however, could pose a challenge. Despite this, trade data indicates a revival in the EU’s buying activities in 2024.

31 Jul 2024

Indian Rubber Market Shifts: Rising Latex Prices and Sheet Rubber Shortages Impact Producers and Tire Makers

The Indian domestic rubber market is witnessing a new phenomenon of more Kerala producers resorting to the sale of latex rather than sheet rubber in the wake of a sharp rise in rubber prices. This has prompted the IRB to urge the Rubber Producer Societies to produce more sheet rubber.

30 Jul 2024

EU fixes safety threshold for worn tires, Aus may follow suit

The European Union has made a remarkable regulation regarding tire use, mandating that worn tires meet the same wet braking standards as new ones.

29 Jul 2024

Two-tier pricing due to EUDR rubber bother for physical rubber market

The surge in EUDR rubber trials is significantly impacting the physical market, leading to a two-tier pricing system. This shift, while providing relief to struggling producers in a bearish spot market, is also causing a surplus situation by diverting non-EUDR rubber into the spot market.

26 Jul 2024

US tire industry getting greener with twin initiatives

UK-based tire company ENSO, which makes eco-friendly tires, chiefly for electric vehicles, has unveiled plans to set up a carbon-neutral factory in the United States at a cost of US$500 million

23 Jul 2024

July 2024 - Price Signals: Thai raw material reprieve, could narrow spread with Indonesian grades

Narrow premium between physical vs futures in the past 6 months could signal support or some technical rebound

22 Jul 2024

Indian Tyre Manufacturers Association is aghast over waste tire imports

India's fresh push for a closed-loop tire economy through EPR (Extended Producer Responsibility) is facing a significant ‘external’ challenge. Indian tire manufacturers, saddled with the responsibility of recycling their products, are concerned about a spike in waste tire imports

19 Jul 2024

Malaysia rubber sector benefits from persistent govt efforts

The quantum jump in smallholders' incomes due to the initiatives undertaken by Malaysian government agencies also has a ripple effect on the country's rubber production. NR production in May this year has spiraled up from the nadir touched in nearly two years in April this year.

16 Jul 2024

Helixtap China report: China’s H2 to witness consolidation post price normalization

The Chinese rubber market is likely to witness some consolidation in the second half of the year following the ongoing correction driven by some slowdown in downstream demand and healthy inventory level.

16 Jul 2024

Major producer of latex in India faces CAG’s flak over losses

The second largest latex producer in India, the Plantation Corporation Kerala Limited (PCKL), which is a Kerala state government-owned company, has been rapped by the Comptroller and Auditor General (CAG) of India for incurring losses in its rubber plantations due to haphazard management practices.

14 Jul 2024

It's zig-zag for Thailand as China steers the wheel

Two tire majors, Jiangsu General and Continental, are increasing the capacities of their Thailand plants, giving a shot in the arm to Thailand rubber producers. This is even as BYD makes an emphatic entry to the country with its EV plant.

10 Jul 2024

Why liquid mixing matters to the NR community

There have been a series of discoveries that mean almost all rubber compounds now typically contain a double-digit number of ingredients from fillers to anti-degradants; processing aids, curing aids, accelerators and other materials, in addition to the rubber.

09 Jul 2024

Indian Tyre industry concerned as domestic NR availability squeezes

The Automotive Tyre Manufacturers Association (ATMA), representing the major tiremakers in India, has sent an SOS to the Rubber Board asking it to make available the raw material rubber, in short supply now, to avoid tire plant shutdowns.

08 Jul 2024

Indonesia starts chasing EUDR, to launch digital dashboard in Aug

As the clock ticks toward the EUDR deadline of December 30, 2024, Indonesia is trying to catch up in the race with the other leading rubber producer, Thailand, to fulfill the conditions laid down by the European Union.

04 Jul 2024

Quantum jump in Cambodian tire exports; rubber shipments up too

Cambodia's persistent efforts to carve a domestic market for its rubber are finally bearing fruit, ringing the country's cash registers. The recently established tire firms are becoming the flag bearers of this revolution by consuming domestic rubber and shooting up tire exports.

03 Jul 2024

Rubber market to navigate lower prices but not for long

The rubber market, currently in a lull period, has seen a boost in production due to favorable weather conditions. However, the uncertainty surrounding this year's production levels, particularly in Asia, is likely to maintain the market's unpredictability.

02 Jul 2024

RAOT begins sales of EUDR-compliant field latex

The Rubber Authority of Thailand (RAOT) has brought the private sector and farmers together to tackle the fresh leaf-fall disease outbreak, even as it has launched EUDR-compliant rubber to strengthen the entire Thai rubber supply chain.

01 Jul 2024

Sri Lanka exports flourish; domestic rubber production in doldrums

Sri Lanka's rubber-finished exports are staging sterling performance into the fourth month of this year, egged on by higher rubber imports from Vietnam at cheaper rates. But the country’s rubber plantation sector is still in a morass, with wage hikes and the vagaries of nature compounding the situation.

28 Jun 2024

US wants EU to sit on EUDR; over a dozen bodies to voice concerns

The US Administration has sent a letter to the European Commission asking it to delay the implementation of the European Union Deforestation Regulation (EUDR), scheduled to take effect on December 30, 2024.

26 Jun 2024

Indian rubber prices upbeat; yield and rain guarding pick up

Indian rubber prices are steadily increasing, with RSS-4 and latex (60%) prices hitting their best levels since 2011-2012 in the third week of June this year, triggering optimism among farmers.

25 Jun 2024

Malaysian rubber sector in fightback mode amid volley of setbacks

The Malaysian rubber sector faced a downcast April, hit by declines across production, import, consumption, export, stocks, and prices. Hot weather, sluggish factory activities, weak Chinese economic data, and concerns over the ongoing geopolitical conflict in the Middle East amid fluctuating crude oil prices weighed on all sectors, capping any gains.

21 Jun 2024

Delays in new car buying could be bad news for rubber

Vehicle sales are rising, but the growth momentum is decelerating, discouraged by the high interest rates, cau

20 Jun 2024

India tire exports regain lost ground, up 12% in H2 of FY24

Tire exports from India made a sharp recovery in the second half of FY 2023-24 and went up by 12% in value against the year-ago period, reveals the data recently released by the Ministry of Commerce, Government of India.

18 Jun 2024

Climate augurs well for major Asian rubber-producing countries

Weathermen expect a climate conducive to rubber production in the coming days in the major producing countries of Thailand, Indonesia, Vietnam, and India, with Indonesia experiencing rains with a little more intensity than others.

14 Jun 2024

Smallholders a worry for Vietnam as it braces for EUDR by year-end

As the clock ticks towards the December 2024 deadline for the EU Regulation on products that cause deforestation (EUDR), Vietnam buckles down to meet its requirements promptly.

13 Jun 2024

Helixtap China report: Trade for international cargoes to China infrequent despite favorable arbitrage

The movement of international cargoes into China saw restricted to essential purchase in May, limiting the opportunity provided by the arbitrage window entering the positive territory.

12 Jun 2024

The Tire Cologne marks a major transition

The Tire Cologne took place last week (4-6 June, in the German city of Cologne) showing the progress of tire makers based in China.

11 Jun 2024

Bearish Q4 for Indian tire makers; expectations for demand revival

The spurt in domestic and international NR prices since the end of 2023 dented the profit margin of Indian tire makers in the last quarter of the financial year 2023-2024. However, due to mellowed NR prices during the first three quarters and some good sales performances in both domestic and export markets, the tire majors staged a sterling performance for fiscal 2023-2024.

10 Jun 2024

US eases duties, hikes tire imports, ups sustainability bid

The United States Department of Commerce has revoked the anti-dumping and countervailing duties imposed on the import of rubber bands from China and Thailand in 2019. On the other hand, tire imports to the country are on an upward spiral while the US tire makers have announced a key tire recycling initiative.

07 Jun 2024

Asian SBR producers under duress amid high cost and weak downstream demand

The Asian styrene-butadiene rubber (SBR) producers are struggling with margin squeeze amid the recent surge in butadiene prices and lackluster downstream demand. While there are some expectations of recovery in the short to mid-term period, some Indian factories are opting to shut down under cost pressure.

06 Jun 2024

Indian NR prices at 11-year high, uptrend continues

The Indian domestic NR market is brimming with confidence, recording the highest price in the past 11 years, whereas producers and traders make guarded selling, mindful of higher global prices and chances for further uptrend.

05 Jun 2024

Rubber prices poised for correction but producers’ hope hinged on supply uncertainty

After a strong recovery in rubber prices in the first quarter this year, banking on wintering and some restocking, rubber prices are poised for some correction. However, some producers still rely on unpredictable weather to cap the price correction.

03 Jun 2024

Vietnamese rubber sector sits pretty as year 2024 unfolds

The Vietnam rubber sector is basking in sunny days, with rubber prices surging alongside the global automobile and tire industries' recovery, especially in China. The future looks bright for Vietnamese rubber-based businesses in the short and medium term, with rubber prices expected to move north in the 2024-25 financial year. With major exporters like Thailand grappling with supply shortages, Vietnam is expected to increase its export market share in the coming days.

31 May 2024

ATMA tells India Govt not to liberalize tire imports through FTAs

The Automotive Tyre Manufacturers' Association (ATMA), the body that represents the top six tire makers in India, has informed the Indian Government that there is no need to encourage tire imports by facilitating duty concessions through Free Trade Agreements (FTAs) with any country now.

29 May 2024

Unexpected container shortage and spike in freight plague tire makers

The crunch in shipping containers and congestion capacity is driving an abrupt surge in ocean freight rates, impacting Asian rubber buyers. In an already tepid demand situation, rubber producers are plagued by rising raw material costs; a supply chain disruption could lead to further market discrepancies.

28 May 2024

Malaysian rubber production down, but exports up in March

Malaysia's bid to increase production wasn't successful in March of this year either, amid substantial imports and a marginal export increase. On the other hand, the domestic glove industry is fired up over the US import duty hike on Chinese gloves.

27 May 2024

Price Signals May 2024: Surprising resilience in prices of field latex prices pushing Thai processors in to negative margin despite end of wintering

Looking at different moving averages, differentials for various grades of rubber.

24 May 2024

In conversation:  Dr Suttipong Angthong says RAOT upbeat about prices; EUDR being already conformed to

Thailand continues to be the top rubber-producing country in the world despite 2023 witnessing a decrease of 1.65% in production annually to 4.707 million tons. However, the country's Prime Minister, Srettha Thavisin, is upbeat about prices moving north in the coming days.

21 May 2024

Cambodia excels in exports but has domestic challenges

Bucking the falling rubber production trend in Thailand and Indonesia, Cambodia continued its impressive show in rubber production and exports in Q1 2024, which started in the second half of 2022. However, the domestic tire industry has yet to propel the consumption of rubber produced in Cambodia significantly.

20 May 2024

Indian rubber production, consumption up, imports down in FY 24

Proving naysayers wrong and giving credence to the projections of the Indian Rubber Board, Indian rubber production has increased in the financial year 2023-2024 (April 2023 to March 2024).

16 May 2024

Helixtap China report: Narrowing spread with overseas cargoes piques Chinese interest; sustainability doubtful

The difference between INE and international prices closed in April and May as a result of the correction in the global rubber prices. It hasn't, however, yet brought Chinese purchasing back into the market in full force.

15 May 2024

To enforce or not to – Liberia's cup lump export ban debate intensifies

One of the major rubber-producing countries in the African continent, Liberia, is grappling with the ban imposed by the country's administration on cup lump export last December.

14 May 2024

Unfazed by rough start, Continental to ramp up operations

German tire maker Continental has made a weak start in 2024 but is making a strategic move to acquire Goodyear's OTR tire business. This significant step is set to enhance Continental's current product range and market coverage, letting it make amends for the lackluster Q1 results.

13 May 2024

INROAD fourth year starts, to cover 130k ha in two years

The Indian Rubber Board has launched the fourth phase of the INROAD (Indian Natural Rubber Operations for Assisted Development) Project, which will be implemented in the northeastern part of India from the financial year 2021-22.

09 May 2024

EUDR: Chinese producers, processors struggling, US not pliant

The top two economies of the world, the US and China, are gearing up for the EUDR (European Union Deforestation Regulation) as it is launched in January 2025, but in their own ways.

08 May 2024

Tire majors losing share to lesser brands

Over the last few years – and especially since Covid – we have seen tire volumes at the top brands decreasing, while the lesser brands are rapidly increasing sales numbers. That has led to factory closures by the premium tire makers and rapid expansion of capacity at the smaller companies.

07 May 2024

Thai raw material market strength likely to wane by end May on higher supply concerns

The Thai government's optimism around Thai rubber prices found some support in extended hot weather in Thailand, which might delay the onset of the new season. Meanwhile, the market participants maintained a slightly bearish tone amid concerns of deteriorating fundamentals and the oversupply due to the upcoming peak season.

06 May 2024

Exports better, but production under stress in dry conditions

The exports of Sri Lankan rubber and rubber products enjoyed good tidings in the first two months of this year, battling global headwinds. However, since February, the island nation's rubber production sector has been facing stressful days under wintering and hot and dry conditions after registering gains last year-end and early this year.

03 May 2024

Vietnam rakes in benefits from Chinese exports, braces for EUDR

Vietnam's rubber sector is basking in the booming car sales in China, especially the sale of electric cars. The poor output from Thailand and Indonesia also came in handy for Vietnam during the period.

02 May 2024

Ivory Coast reaps rich dividends, aims record output in 2024

Ivory Coast's rubber smallholders are basking in the newfound turnaround in their fortunes. "Very good prices" have knocked on their doors in recent months in tandem with the rise in global prices. And they expect the trend to continue in 2024 even as the country is projected to produce a record 1.8 million tons of NR this year.

30 Apr 2024

Yokohama makes impressive global moves in 2024 Q1

Leading tire maker Yokohama Rubber Company has recorded a 45.8% increase in operating profit to US$672.6 million in 2023 and is raring to expand its global footprint in 2024.

26 Apr 2024

European Tyre and Rubber Manufacturers Association (ETRMA) has independently pointed out issues in the EUDR along with solutions.

The ETRMA, hence, suggested that due diligence on land tenure should focus on objective illegality screenings to identify plots of land in protected or restricted use areas.

24 Apr 2024

Price Signals Key Highlights: Short term pressures on prices could widen differential between futures and physical

The Rupiah has allowed Indonesian processors to adapt to the slight dampening in physical prices as it has fallen to a 4 year low against the USD.

23 Apr 2024

Mixed feel for Kerala farmers amid summer rains and price dip

The rubber-producing regions of Kerala started receiving summer rains in fairly good measure from the end of April second week, which is conducive for rubber production, and farmers are hopeful of launching the next production season in less than a fortnight from now.

22 Apr 2024

Lower gross margin trends imply a challenging environment for processors in 2024

The rubber producers are likely to witness some narrowing of the margins in the second quarter from lower cost and price spread due to weakened global demand and oversupply. Even though demand is expected to pick up later this year amid possibilities of easing monetary policies, the short-term outlook will likely stay grim.

19 Apr 2024

Malaysian imports, exports go up; production ebbs

Malaysian rubber imports are hitting new heights, especially those from the African producer Ivory Coast. In contrast, its NR production fails to make any breakthrough despite the persistent efforts of the administration to boost cultivation with sops to farmers amid a recent rise in prices.

17 Apr 2024

Various International Bodies & Organizations Reiterate Support and Implementation of EUDR as planned in a letter to the European Commission

The letter (which was mostly signed by various international NGOs, and climate activists) noted that the EUDR legislation was introduced to create a level playing field in the market after the failure of many years of voluntary pledges by the private sector to address deforestation in their supply chains.

15 Apr 2024

ZC Rubber, Sailun to start new units in Indonesia

Chinese tire major ZC Rubber has started construction on its new state-of-the-art tire factory in an area of 500,000 sq meters in Semarang, Indonesia. Work on the unit is expected to be completed in eight months.

12 Apr 2024

Helixtap China report: China needs a steep correction in inventory to revive

The Chinese market is surrounded by some bullish sentiment for the upcoming month. However, the high inventory level is likely to be the biggest obstacle for the demand to revive.

11 Apr 2024

Indian tire exports slump but salvage some by year-end

Indian tire exports hit a rough patch under global headwinds in the nine months from April to December 2023, but towards the end of the year, there was a recouping from the sharper declines in the previous quarters.

09 Apr 2024

India producers, traders demand Rubber Board certification to keep up with EUDR

Indian rubber producers have now asked the Indian Government to appoint the Indian Rubber Board as the certifying agency for EUDR, scuttling moves from certain quarters to appoint private agencies.

08 Apr 2024

What is happening in China’s tire market?

China’s economy has been in the doldrums for the last couple of years, since the government ended Covid restrictions. That has had a substantial negative effect on China’s domestic tire industry. Nevertheless, there are some signs of recovery in the tire industry and also in the wider economy.

04 Apr 2024

EXCLUSIVE: EU bodies pick 'EUDR holes', rally up to force 'own' case

Concerns have sprung from the European continent regarding the implementation of EUDR, even as the European Union braces for its implementation in a less strict form from December, accommodating concerns of the Global South.

04 Apr 2024

Thailand boards sustainability wagon early to reap quick benefits

Thailand has had a favorable opportunity to prepare itself as the European Union has opted to delay the implementation of the strict benchmarking.

03 Apr 2024

Riding the deforestation wave might lead Indonesia's rubber production into a contraction

The deforestation movement in Europe has gone global as the EUDR deadline draws near. The drive to limit deforestation has urged Indonesian producers to hasten the deployment of sustainable rubber production.

01 Apr 2024

Cambodian rubber export surges in Jan, plateaus in Feb

In the first two months of 2024, Cambodia continued its uptrend in rubber article exports, which began in the middle of 2022. This takes place even as the Kingdom’s newly established domestic tire units firmed up the domestic market for rubber, bringing better days for domestic rubber producers.

28 Mar 2024

Kerala Govt clears RPIS arrears to the tune of US$2.93 million

It's election time in India, and Kerala rubber farmers, too, have received their share of benefits in the run-up to the coming Parliament elections. The Kerala Government has now released a good tranche of the Rubber Production Incentive Scheme (RPIS) Ninth Phase, ringing downcast rubber farmers' purses.

27 Mar 2024

Expert zeroes in on ELT avenues amid resource crunch and costs

Offering a global perspective focusing on India, Misra said there is a perceptible shift from a linear economy to a circular economy, and shared economy and tires formed part of this transition.

26 Mar 2024

Malaysian NR production near steady; concerted bid to scale it up

Malaysia's persistent efforts to keep rubber production on track and scale it up in phases have borne fruit to an extent, buoyed by the recent uptrend in rubber prices due to Thailand's below-par show. For six months leading to January 2024, Malaysian NR production remained above the 30,000-ton mark, and the Government has now expressed its keenness to revive vast tracts that remain untapped.

25 Mar 2024

Indian Rubber Board announces export incentive; prices spurt

Responding to the country's rubber producers' call in the past few weeks to export rubber to reap the benefits of higher global NR prices, the Indian Rubber Board has announced an incentive of INR 5/kg for the export of sheet rubber.

21 Mar 2024

EU signals EUDR delay; ANRPC says issues remain to be addressed

The European Union’s Deforestation Regulation (EUDR) has been a point of conversation globally, and the delay has enlivened the conversation. While there seem to be some concerns around the impact, In reaction to the latest development, ANRPC Secretary-General Toh Heng Guan, in conversation with Helixtap, said what is emerging is heartening news. Still, there are issues that remain to be addressed.

20 Mar 2024

EUDR delayed restriction implementation leave rubber markets to navigate murky waters

After more than a year of prepping and positioning, the recent move by the European Commission to delay the strict benchmarking of the countries has been one that generates more questions than clarity concerning the time frame and impact.

19 Mar 2024

Price Signals Key Highlights: Indonesian Rubber grades still trading highest, but in the longer term could correct

Sharpest spikes occurred in January for STR20 Helixtap Assessment, when field latex and raw material prices started to increase.

18 Mar 2024

Tire majors excel in Q3 FY24 YoY, but MoM performance dips

Subdued demand coupled with relatively higher raw material (crude oil and NR) costs reflected in lesser profit for tire majors except Apollo Tyres in the third quarter of the Financial Year 2024 (April 2023-March 2024) compared to the previous quarter of the same year. However, year on year, the profits shot up dramatically due to relatively lower raw material prices and better product prices during this Q3.

14 Mar 2024

El Nino weakening; brighter prospects for rubber from April

Under the influence of the Madden-Julian Oscillation (MJO), a sub-seasonal atmospheric variability that affects the strength and location of tropical precipitation, Indonesia is witnessing rain in ample measure now. At the same time, Thailand is set to have arid conditions for the next month, also under the influence of El Nino.

13 Mar 2024

Tire industry sees mixed picture worldwide

The global tire industry is changing. The financial results for the 12 months to December 2023 show it. Most of the major brands are losing share, while the replacement brands are offering better value for money and consumers are seeing the benefits of so-called down-trading.

12 Mar 2024

Helixtap China report: China’s 2023 buying pattern points to increased interest in Africa

Over the last decade, the rising China’s power on the commodities industry is seeing some discernible change in the characteristics and the patterns that surfaced in 2023 are probable to persist in 2024.

11 Mar 2024

EUDR: Malaysia-Indonesia-EU close in on dedicated teams and timeline under five key workstreams

Indonesia, Malaysia, and the European Union (EU) have taken a significant step toward implementing the EU Deforestation Regulation (EUDR).

08 Mar 2024

Smallholders feel IRM-2024 betrayed PM’s goodwill for them

Even as the India Rubber Meet-2024 convened at Guwahati on February 23 and 24 debated a host of issues affecting the rubber and its downstream sectors, the smallholders, especially from the largest NR-producing state of Kerala, are peeved over the failure of the meet to debate the most critical question of the low domestic price of NR.

06 Mar 2024

ATMA chief echoes Indian PM’s call for self-sufficiency in rubber production

The India Rubber Meet-2024, held for two days at the Assam capital of Guwahati on February 23 and 24, debated a host of issues affecting the Indian rubber sector and its downstream while reflecting on the emerging trends in the changing landscape of natural rubber and providing insights for tomorrow.

05 Mar 2024

Squeezed margins force Bridgestone to pull TBR out of China

In a strategic shift purported at bolstering its earning power and aligning with its long-term vision, global tire leader Bridgestone Corporation announced a decision to intensify its premium focus in China last week.

04 Mar 2024

Rubber supply concerns looms ahead of wintering

Rubber buyers might face challenging market conditions as the upcoming wintering season in some of the key rubber-producing nations starts, resulting in some shortage in the market. The situation could turn grim, leading to a significant price surge as poor margins and recent unseasonal rains have already resulted in some drops in production in Asian rubber-producing countries.

01 Mar 2024

ANRPC holds informal talks with European Comission on EUDR

At a time when the European Union Deforestation-free Regulation (EUDR) rocks the commodity world, the Association of Natural Rubber Producing Countries (ANRPC) is continuing its spirited bid to defend the rubber smallholders across the globe to ensure that the European market remains accessible to them despite any digital illiteracy on their part.

29 Feb 2024

Excerpt of Webinar - RSS3 Futures and Physical Rise: Canary in the coal mine?

Recent spikes in RSS3 Physical and #OSE futures - are they a leading indicator for the #rubber #market? Is this similar to the #cocoa market? What are some strategies to trade it?

29 Feb 2024

India Rubber Meet showcases Northeast odyssey before the world

For the first time anywhere in the world, the Indian tire majors have tied up with the Indian Rubber Board to cultivate rubber in 200,000 hectares in the seven northeastern states of India for five years until FY 2025-2026 under the INROAD Project.

28 Feb 2024

Rejig in rubber trade flow in 2023

2023 saw some alteration in rubber trade flow, with Chinese inclination towards Indonesian rubber and a contraction in imports from the Western market, indicating a change in the rubber trade dynamics.

27 Feb 2024

Indonesian rubber reaches 19 months high on recurring buying

Increased trading volume and recurring buying from tire majors nudged SIR 20 prices to reach a 19-month high, making it one of the market's better-performing grades during the week.

23 Feb 2024

Indian rubber sector gets a govt stimulus of US$16 million

The Indian government has unveiled a comprehensive plan to revitalize the domestic rubber sector, injecting new life into it with a 23% increase in financial assistance in the next two fiscal years under the "Sustainable and Inclusive Development of Natural Rubber Sector" scheme. The initiative aims to address critical challenges while empowering producers and modernizing infrastructure for a sustainable and prosperous future.

22 Feb 2024

Signs of relief in Lankan rubber sector: December posts better returns

The New Year dawn has brought some reprieve to the Sri Lankan rubber industry. Sri Lanka recorded a national production of 65,000 tons in 2023, as compared to 70,867 tons in 2022, down 8.27% YoY.

21 Feb 2024

Innovations abound as tire makers shift focus to EVs

Global tire majors are hitting a new trail in 2024 with innovation as the cornerstone, onboarding downstream players and end-users into the scheme.

20 Feb 2024

Malaysian reliance on African rubber shoots up as production sags

For the fourth month in a row, Ivory Coast beat Thailand to be the top importer of NR to Malaysia even as Malaysia’s total imports reached a whopping 131,629 tons in December, up 18.9% month on month, which is the highest for 2023.

19 Feb 2024

Cambodia crosses a milestone, creates domestic market for rubber

Cambodia’s concerted bid to carve a domestic market for its rubber has at long last borne fruit, with its new domestically raised tire production segment consuming a definite share of the homegrown rubber in 2023.

16 Feb 2024

Indian Farmers restive as prices remain steady as domestic production almost stops

With international prices for rubber hovering higher than Kottayam prices for over two weeks now, the Kerala producers are asking the Indian Rubber Board and the Indian Government to take measures to export Indian rubber, especially rubber produced from the Northeast, which is sold at much cheaper rates than Kottayam rubber in the domestic market.

15 Feb 2024

Vietnamese firms ready to tap rise in rubber values

Vietnam witnessed a marginal dip in rubber export volumes in 2023, but the decline in returns was even greater due to the lower values through most of last year, which is witnessing a reversal now, rekindling the hopes of the Vietnamese rubber farmers.

14 Feb 2024

Red Sea shipping crisis shoots up Indian tire export costs

The Red Sea crisis stemming from Yemen-based Houthi attacks on shipping liners has escalated the shipping costs of Indian tire makers exporting to the US and European markets. While 14 to 20 more days are needed to reach Europe and the US East Coast through the alternative Cape of Good Hope route, the freight rates through this route are up to four times higher.

13 Feb 2024

Helixtap China Report: Gap between domestic & international cargo widens; uncertainty around Chinese demand revival

Prices spread between INE and international cargoes widened up in January because of a lack of raw materials and a drop in the value of the Chinese yuan. Buyers opted to buy from warehouse stock or in Chinese yuan, with ample African rubber stock priced at par with Shanghai futures exchange levels.

09 Feb 2024

Changes at the top of Goodyear

January was a decisive month for the Goodyear Tire & Rubber company. Most significantly, a replacement for Rich Kramer as President and CEO took over from 29 January.

08 Feb 2024

Floor price hike fails to enthuse Kerala farmers

In a significant move aimed at lifting the sagging spirits of weary rubber farmers, the Government of Kerala State in India has raised the floor price of rubber from the current INR 170/kg to INR 180/kg, which means an effective hike of US$120/ton. Kerala accounts for over 70% of rubber production in India and has 950,000 rubber farmers, and they are not excited about the development.

07 Feb 2024

Rising concerns around the Red Seas transit

The heightened tension in the Red Seas has reintroduced volatility in the rubber sector, which was initially projected to have a less turbulent year. With rising supply risk, consumers could face tightness as supply chains adjust to the longer route. Meanwhile, owing to some other weather-related disruptions in parts of Asia, rubber prices could be more susceptible to a hike than expected.

06 Feb 2024

Slump in rubber demand expected to persist in H1 2024

The following article is an excerpt covering the rubber market outlook in 2024 for subscribers. For access to the full report, please contact farah@helixtap.com.

05 Feb 2024

Helixtap Price Signals flash update: Physical price differential premiums over SICOM rising above US$100/mt

This year so far, prices for prime grades such as STR20 and SIR20 levels were assessed at around US$1,670/mt and AFR10 (CIF HAM/ROTT) at US$1,545/mt. Year to Date, these levels represent an increase of about US$65/mt, or about 4% across the 3 grades. The SICOM TSR20 (P1) futures instead recorded a decline of US$29/mt, or 2% YTD. For physical grades, these prices were last seen at this price range in July 2022, about one and a half years ago. The SICOM futures were last observed at this price ran

02 Feb 2024

After Ivory Coast, market awaits Liberian move to ban unprocessed NR export

The rubber market awaits Joseph Boakai's decision, the new Liberian President, on the restrictions on exports from the country initially proposed by George Weah, the previous President.

01 Feb 2024

Rubber Board notifies Agartala price, stirs producers

The Indian rubber production scene is on the boil again, with official prices getting regional tags that have come to unsettle the farmers. The farmers are upset because of the grave anomaly embedded in the ‘regionalization,’ which renders them a raw deal.

31 Jan 2024

China makes breakthrough strides in rubber, tire sectors

China's rubber and tire sectors are going through a transformative phase now characterized by groundbreaking advancements in bionic rubber technology, the localization of aircraft tire production, the utilization of Eucommia Ulmoides for rubber production, and strategic investments in tire production abroad. The developments hold the potential to position China as a key player in innovation, self-sufficiency, and international competitiveness in the twin allied sectors.

30 Jan 2024

Supply tightness possibility in Q2 supports spot; Chinese signals still weak

Last week, the physical rubber market was a little better because people thought that supplies would be tight in Q2. The feeling was strengthened by the thought that China might use stimulus money to help its economy recover.

29 Jan 2024

Myanmar on the backfoot in rubber output as FY nears end

Myanmar's goal of improving export performance in the current fiscal, FY 2024 (April 1, 2023-March 31, 2024), seems to have hit a roadblock with adverse weather conditions impeding production and a global slowdown along with a domestic policy shift weighing down the export market in the preceding months.

26 Jan 2024

Exports mainstay as home front seeks holistic solution

Despite being on the back foot in domestic rubber production due to leaf disease, Sri Lanka still finds exports of rubber and rubber products as a key forex spinner. However, the export output for the first 11 months of 2023 could not outpace the figures of the same period in the previous year, whereas November figures kept the momentum brought in from August this year.

24 Jan 2024

Late Chinese surge brings relief for Vietnam in export returns

As the data for 11 months emerge, Vietnam is set to fall well short of its target of exporting rubber worth US$ 3.5 billion in 2023 due to the slump in prices in the early months. However, the pull from the Chinese market in the later months of the year made amends to a certain extent, limiting the damage.

22 Jan 2024

Rubber market outlook for 2024 cautiously optimistic, pressure on production, thin margins persist

Following a sustained downfall in 2023 in the rubber market, the market participants are in a cautiously optimistic frame, following the continued production disruption in 2024. In January 2024, the World Meteorological Organization (WMO) confirmed 2023 as the warmest year on record. In the middle of the year, the climate was said to shift from La Niña to El Niño. This phenomenon with hotter and drier weather conditions is implied to persist up till April 2024. Such conditions could have

19 Jan 2024

Malaysian NR production falls in November despite price spurts

The Malaysian rubber market failed to draw optimism from the positive global macroeconomic cues despite some price support as production continued to drop in November 2023.

18 Jan 2024

Cambodia cruises to best figures in November, deepens China ties

Cambodia made the highest volume of exports of dry rubber for 11 months of 2023 in November, earning the best returns during the same month as well. However, due to its higher inventory levels amid a decline in latex-based product demand, weakened Chinese demand has become a dampener for the kingdom's latex exports.

17 Jan 2024

Traders in pole position as prices shoot up amid shortage

Traders and dealers are calling the shots in the Indian rubber market, with prices going up amid a shortage being felt in the market.  Indian production is reportedly progressing lower than last year, with the climate not following the seasonal pattern in the normal peak production months of December and January.

16 Jan 2024

EUDR 2024 Updates

​​​​​​​SMEs and non-SMEs will face different compliance deadlines and due diligence requirements, EU Commission clarify factors of consideration but yet to release producing country risk benchmarking, Due to the legal implications and ramifications of non-compliance, it is likely that many organisations will choose to implement their own systems to minimise possible penalties, rather than rely on any third-party systems.

15 Jan 2024

Farmers siege MRF, Apollo offices seeking fair share of CCI award

Peeved over the continuous denial of a fair price for rubber even as tire makers ring their cash register, the rubber farmers in the rubber production hub Kerala in India marched and blockaded the offices of two tire majors in India – MRF and Apollo Tyres – on the eve of the New Year of 2024.

11 Jan 2024

Leaf spot disease lands Lankan rubber sector in dire straits

The Sri Lankan rubber sector seems to be losing its battle against the airborne circular leaf spot disease (CLSD), which has hit an unprecedented scale at over 50 percent of the plantations, even as the island nation's rubber and rubber-finished products exports witness a zig-zag movement.

10 Jan 2024

Helixtap China report: Spread between INE and international prices narrows; inventory still dampener

The appreciation in the Chinese Yuan against the U.S. dollar narrowed the gap between INE and international prices despite the elevated levels of the overseas cargoes. Nonetheless, due to increased inventory levels the rate of physical cargo influx has slowed.

09 Jan 2024

Farmers’ venture RubFarm starts marketing own products

In a transformative stride towards sustainability and prosperity in India's rubber industry, the Rubber Farmer Producer Company RubFarm is making its imprint by rolling out various products.

08 Jan 2024

Cambodia extends export tax incentive for two more years

Cambodia has extended tax incentives for rubber exports for another two years, starting January 1, 2024. This decision, outlined in a government sub-decree endorsed by Prime Minister Hun Manet on November 23, aims to bolster the domestic rubber industry by encouraging cultivation and supporting exporters grappling with declining prices attributed to global headwinds.

05 Jan 2024

Helixtap Price Signals flash update: Lower gross margin trends imply a challenging environment for processors in 2024

Towards the end of 2023, SIR20 was assessed at the year-long high above US$1,550/mt. Prior to 2023, this assessment was last seen at these levels in August 2022. Compared to 2022’s price highs around US$1,850/mt, current prices are still more than US$200/mt lower. In terms of the moving average price over the past 20, 50 and 200 days (20, 50 and 200MA), there has been no indication of a change in the upward price trend. Shorter-term moving averages remain below longer-term moving averages.

05 Jan 2024

German rubber industry in the throes of a crisis- German Rubber Industry Association

The German Rubber Industry Association (wdk) has sounded alarm bells, painting a precarious state of the nation's rubber industry, with demand plummeting and a global exodus haunting the sector.

03 Jan 2024

Lower than anticipated 2023 causes apprehension regarding 2024

The year 2023 proved to be considerably more challenging than anticipated. Following an initial market upswing triggered by China's return, market volatility was exacerbated by oversupply, temporary weather-related disruptions, and mounting pressure on the global economy.

02 Jan 2024

Indian Rubber Law draft comes back to stakeholders for discussion

The Indian Government has returned the new Rubber Law being piloted by it to rubber sector stakeholders to elicit their opinions once again. The development comes in the wake of complaints from producers and workers that the law, drafted after a round of talks with them in July this year, has failed to address many of their grievances.

28 Dec 2023

Rubber prices more or less stable, likely to move upward

Rubber prices have witnessed only marginal fluctuation in the Indian market in over a month, remaining in the range of INR 155-150/kg despite December being the peak production season in the hub of Kerala state, which contributes over 75% of Indian production.

28 Dec 2023

China's automobile, tire sectors in fine fettle

In an impressive display of resilience and growth, China's automotive industry marked a spectacular performance in November 2023, with both automobile production and sales making significant advancements. The tire industry also painted a rosy picture in the month, pushing China past negative sentiment on these fronts.

28 Dec 2023

China bid to boost rubber production with insurance cover

China, which is a major importer of rubber, is giving a more significant push to its rubber production so that its reliance on rubber imports is lessened for its thriving tire industry that caters to both domestic and export markets and generates ample revenue for the country.

22 Dec 2023

Michelin on diverse missions in the East and the West

Top tire maker Michelin is rediscovering its European operations by upgrading its French aircraft tire factory even as it shuts down two sites in Germany and ceases manufacturing of some products in another one. On the other hand, the French tire major has decided to set new sights in the New Year by massively expanding its Shanghai and Shenyang tire factories in China.

20 Dec 2023

Demand & supply uncertainty underpins spot vs LTC volume dilemma amid producers

Amid the uncertainty in the rubber market, the producers have mixed stances on volume size under long-term contracts. The existing glut situation and bearish demand outlook have led to some producers being unwilling to offload larger volumes under these contracts. This could disrupt the consumer's ability to ensure a stable supply as volatility in the spot market continues.

19 Dec 2023

Price rise boosts morale of smallholders; production marginally up in October

The Malaysian rubber market was generally mixed in October, with SMR 20 and centrifuged latex prices moving upwards, supported by favorable market fundamentals and significantly tighter rubber supply due to wet weather in major rubber-producing countries. Resultantly, the Malaysian NR production, too, went up, though marginally, with producers showing enthusiasm to cash in on the price rise caressed by supportive domestic weather and proactive government measures aimed at uplifting the sector.

18 Dec 2023

SR prices downward amid subdued downstream performance

The lower domestic raw material demand due to an ebb in auto and tire production in November led to a thaw in Indian synthetic rubber prices through November and into the first week of December.

15 Dec 2023

UK lets rubber go of deforestation knot, but larger EU poser remains

The United Kingdom, which hosts 12 major tire manufacturing units, has decided to exempt rubber from deforestation regulations, but it is widely seen as not making any profound impact, with the UK's share in the EU pie of tire-making remaining relatively insignificant. The EU, on the other hand, has kept rubber under the list of EUDR (European Union Deforestation Regulation) under compliance until January 2025.

14 Dec 2023

Part 2: Electrification brings a new class of leader in the automotive OEM industry

Traditional automakers will likely have a disadvantage compared to their EV-first automakers, such as Tesla and BYD who respectively have 20% and 15% of the global market share, with Volkswagen trailing in third place.

13 Dec 2023

CEOs chalk out action plan as tires struggle on sustainability

The US tire industry is being taken to task on sustainability, but it's rising to the occasion and responding positively. The tire industry CEOs are committing to research tire emissions amid the US Environmental Protection Agency's (EPA's) steps to regulate 6PPD, a common chemical found in car tires responsible for the death of salmon in the American Northwest. At the same time, in the Far East, Kumho Tire is joining hands with Synthos to develop sustainable tire materials.

12 Dec 2023

Legislation Impacts Tire Makers

Until recently, the most impactful government initiatives have been limited to imposing anti-dumping and anti-subsidy tariffs on imports from specific countries. These have affected mainly bi-lateral trade, rather than regional or global composition of tires.

11 Dec 2023

Helixtap China report: High stockpiles, elevated physical rubber prices dented Chinese buying

The Chinese market for international rubber has been impacted by high international rubber prices coupled with high inventory levels, making imports unviable. The rising trend in the domestic inventory levels amid tepid demand has limited interest from Chinese consumers.

08 Dec 2023

Vietnam gets better returns in October, paints a rosy picture ahead

Vietnam exporters benefited as rubber prices marginally increased from September to October 2023, driven by a combination of factors, including supply and demand dynamics, geopolitical tensions, and speculative trading. Demand for Vietnamese rubber from key export markets, such as China and the United States, remained firm in October 2023.

07 Dec 2023

Research brings silver lining for farmers as prices show downward trend

As rubber production season peaks in the main hub of Kerala state, the Indian rubber prices are softening, making the producers weary who say that the behavior of the market doesn’t motivate them to stick to rubber cultivation. Market players say that imports of both block and compound rubber to the country are continuing, contributing to the price fall.

06 Dec 2023

Part 1: Electrification brings a new class of leader in the automotive OEM industry

Since the turn of the 19th century, the car has remained relatively unchanged, but today, pressing challenges ranging from disruptive technology trends, changing consumer behaviour, electrification and geopolitical currents are combining to reshape business for the entire automotive industry. How automakers and their OEM counterparts weather this period of change will determine their fortunes over the next two to three decades.

05 Dec 2023

Papua New Guinea joins Ivory Coast in cup lump ban; ANRPC smells opportunity

After Ivory Coast, Papua New Guinea (PNG), a small rubber producer in the Southwestern Pacific, is also declaring 'enough is enough' with the trade-in cup lumps. The small nation is banning cup lump exports starting January next

04 Dec 2023

Pirelli in Saudi Arabia, to set up tire plant with PIF

Propelling Saudi Arabia’s mission to be a global automotive manufacturing hub by 2030, top tire maker Pirelli has teamed up with the Saudi Public Investment Fund (PIF) to jointly launch a tire manufacturing facility in the Gulf Kingdom.

01 Dec 2023

Growing Ivorian supply could price out Asian competitors with higher cost structures in 2024

Since 2007, the top 5 natural rubber (NR) producers globally have remained similar with the exception of Malaysia being replaced by the Ivory Coast. In 2022, the 5 largest producers produced about 78% of the world’s natural rubber supply with the majority originating from Asia.

30 Nov 2023

India initiates anti-dumping probe on Halobutyl Rubber

The Indian Director General of Trade Remedies (DGTR) under the Ministry of Commerce and Industry has initiated an Anti-Dumping Investigation concerning imports of Halobutyl Rubber (HIIR) originating in or exported from Japan, Russia, Singapore, the United Kingdom and the USA.

29 Nov 2023

Indian tire majors continue dream run in September 2023 quarter too

Indian tire majors continued their sterling performance in Q2 of FY 2023-2024 (July-Sept) on the strength of softer raw material costs and healthy demand from the domestic auto sector and the replacement market, which basked in the festive season. The Western market, swayed by the global headwinds, is yet to return sound yields to the majors.

28 Nov 2023

Rising protectionism in Europe could damage long-term growth in the auto sector (Part 2)

With macroeconomic headwinds and geopolitical tensions on the rise globally, there has been a concurrent surge in protectionist policies resulting from nationalist rhetoric around the world.

27 Nov 2023

Helixtap Price Signals Flash Update: Physical prices at highest level YTD, regaining premium over SICOM TSR20 futures

Following the previous update in end-October, there has been no change in moving average trends for both physical grades and the SICOM futures. Short term moving averages remain above longer term moving averages signalling continued bullish price trends. STR20 and SIR20 are currently at the highest levels year-to-date, while SICOM and AFR10 (CIF Assessment) are near their respective YTD highs.

24 Nov 2023

Cambodia chugs on in rubber production despite price slump

Cambodian rubber production continues the upsurge despite global headwinds eroding returns from the commodity, making it a tough battle for the farmers of the Southeast Asian kingdom who, however, are not ready to let go of the fighting spirit as they foresee an optimistic turn by the middle of next year.

23 Nov 2023

Indian rubber prices more or less steady, production peaking

Indian rubber prices have not been swayed by volatility over the past month, remaining in a close range of INR 151-155/kg (US$ 1.81-1.86) due to steady yet guarded purchases by the tire makers amid weather fluctuations and concerns over the output volume this season.

22 Nov 2023

Rising protectionism in Europe could damage long-term growth in the auto sector: Part 1

The investigation emerged amid intensifying competition between EV automakers, especially as Chinese manufacturers have stepped auto exports to overseas markets, such as Russia, India and Mexico.

21 Nov 2023

Vietnam exports in full swing, but returns fail to keep pace

Vietnam returned to a positive natural rubber outlook in September 2023, with oil prices showing a definite markup, while Thailand’s rubber production got impeded due to extreme climate even as China’s automobile industry revved up on EV push amid a spurt in tire and tube exports.

20 Nov 2023

Malaysian NR production shows growth; imports shoot up

Malaysian rubber production continued its upsurge in September, riding on a positive sentiment brought by the rebound in Chinese manufacturing activity, the possibility of NR supply disruption in Thailand owing to flash floods and heavy rains, rising expectations that the US interest rate hike will remain unchanged and the weaker ringgit against US dollar. The gain in crude oil prices, primarily aided by chokes in Saudi and Russian supplies, also helped boost the positive sentiment.

17 Nov 2023

Indian tire makers amidst positive tidings

The Indian tire makers are riding the crest of heartening waves, with Himadri-Dalmia Bharat resurrecting the defunct Birla Tires, while JK Tyre is investing Rs 1025 crore over two years for capacity expansion and Apollo Tyres venturing into building a sustainable new tire warehouse in Enschede, the Netherlands.

16 Nov 2023

No halt on exports for Ivory Coast; impact still significant

The clarification from the Minister of State of Ivory Coast on the recent decision to restrict exports has brought some relief for the producers. However, the magnitude of the impact of limited exports is affecting the market sentiment.

15 Nov 2023

3Q 2023 tire maker results – Just how bad is it?

A review and analysis of the top 20 tire manufacturers 3Q2023 results.

14 Nov 2023

Ivory coast halts exports of cup lump; Rubber market faces escalating supply crisis

The rubber economies are on the verge of facing a crisis that threatens to worsen in the coming months as the African government decides to stop cup lump exports for [...]

10 Nov 2023

August fares better, but rains dampen further prospects

The Sri Lankan rubber and rubber products sector is passing through a challenging phase this year, with leaf disease and climate change bringing ample miseries, impeding production and supply, while overseas demand for products is yet to show any marked uptick with global headwinds refusing to cede.

09 Nov 2023

Farmers in Ivory Coast protest against low prices, Indian farmers in a similar row

At a time when global rubber prices languish at subdued levels, farmers in two continents – in Ivory Coast in Africa and Kerala in India – have taken to the streets, demanding governments to intervene and downstream players to act responsibly to ensure a fair deal for them.

08 Nov 2023

ANRPC working on sustainable rubber price; in two-pronged strategy on EUDR

​​​​​​​India assumed the chair of ANRPC at the end of the 13th annual meet held at Guwahati, India, from October 9 to 13, 2023. Executive Director of the Indian Rubber Board, M Vasanthagesan, also took charge as the new ANRPC Chairman. Vinod Nedumudy caught up with Mr. Vasanthagesan on behalf of Helixtap to know his priorities as he takes charge of the all-important NR global body. Excerpts from the interview.

07 Nov 2023

Helixtap China report - China's near-term demand seen flat; hunt for arbitrage

Short-term demand from China is likely to remain slow as rising international prices and higher inventory has drifted the Chinese buyers only towards opportunistic buying.

06 Nov 2023

Price decline forces Cambodia on the backfoot until August

Cambodian rubber continues to be at the receiving end of geo-political and economic turbulence, leading to lower returns from latex exports in an oversupplied market, while its nascent tire industry is yet to start buttressing the rubber sector.

03 Nov 2023

Helixtap Price Signals flash update: Processing margins narrow as raw material costs rise over October 2023

Over October 2023, the respective longer-term 50 day moving averages (50MA) have trended above the 200 day moving averages (200MA) for physical rubber grades and rubber futures. From the Price Signals tool, these signals were observed for SIR20, STR20, AFR10 (CIF Rotterdam/Hamburg) and the SICOM TSR20 P1 futures.

02 Nov 2023

Raw material supplies a challenge to meet rubber demand

As the tire makers near the beginning of the long-term contract negotiations for 2024, one challenge facing the rubber industry is raw material supply and whether there will be enough to meet demand for the coming years.

01 Nov 2023

Farmers want ‘feed to the field rather than fodder to the brain’

Bridgestone India may be stepping in to adopt 100,000 smallholders in Kerala over four years until 2027 using its CSR funds, but the farmers in the South Indian state are not overly enthused. They want the tire major to give them tangible economic benefits through the project rather than mere empowering initiatives.

31 Oct 2023

Global Rubber Seminar 2023: Pricing of Rubber, Data and the EUDR

Op-ed and reflections on recent Global Rubber Seminar 2023.

30 Oct 2023

Bridgestone India steps in to adopt 100,000 farmers in Kerala

Creating a buzz in the Indian rubber and tire spectrums, Bridgestone India, the Indian arm of the Japanese major, has announced its plans to adopt and support one lakh smallholder rubber farmers in Idukki and Kottayam districts in Kerala under a sustainable natural rubber initiative called 'Unnati,' launched in collaboration with Netherlands-based NGO Solidaridad.

27 Oct 2023

GRS-2023 - Overcoming the turmoil in rubber market – Replacement or investment, dilemma predominant

Global environmental or ESG concerns are squeezing the rubber industry from both ends. With anti-deforestation laws limiting supply growth on one side and growing interest for alternate and bearish demand outlook are raising concerns around consumption on the other.

26 Oct 2023

Cambodia in multi-pronged strategies to buttress rubber sector

Cambodia made it clear at the ANRPC 13th annual meet held on October 9-13,2023, in India, that the nation was keen on working with other NR-producing countries to ensure the well-being of its smallholders. The Cambodian representatives said issues of middlemen, logistics, high cost of production, and complicated export documentation, apart from low prices, remain major challenges faced by the NR sector in the country.

25 Oct 2023

Malaysia rallies rubber output in August; exports, imports too up

Better domestic climatic conditions amid a positive rubber price outlook in the wake of extreme weather hitting Thailand's rubber production and the Federal Government's plans to increase annual latex production by 30% helped Malaysia pick up rubber production in August 2023.

23 Oct 2023

ANRPC asks the EU to acknowledge rubber as forest tree

The Association of Natural Rubber Producing Countries (ANRPC) has expressed concern over the enactment of the EU Deforestation-free Regulation (EUDR), terming it as having the potential to create unnecessary trade barriers that may lead to catastrophic outcomes to the NR global supply chain, especially to the smallholders.

20 Oct 2023

Real demand still missing from market as majority of deals reported for INE spec rubber

Physical grade rubber in the market continued to trend upward over the working day, with reported offers following an increase in the Shanghai International Energy Exchange (INE) TSR20 futures. Raw material prices have been on a sustained increase this week, while supply was said to run low in major producing regions. Some say interest from international tyre companies has recently vanished from the market. Market intelligence also suggests that most deals in the physical rubber market consist

19 Oct 2023

Thailand in measures to curb volatility in prices, increase profit of smallholders

Thailand, the numero uno natural rubber producer in the world, feels that climate change and sustainable practices will determine NR prices in the coming days, along with growing demands from industries, including the automotive sector, and the increased consumption from emerging markets.

18 Oct 2023

ANRPC annual meet in Guwahati India focus on price fall and sustainability

The 13th Association of Natural Rubber Producing Countries (ANRPC) annual meeting held on October 9 at Guwahati city in the Assam state of India, and the ANRPC 45th Assembly held at the same venue on October 10 were marked by some deep and insightful presentations and discussions on two major issues concerning the rubber sector: the price fall and the issue of sustainability.

17 Oct 2023

[Exclusive] Africa steps in to arrest plunge in rubber prices: Ivory Coast working to stop exporting cup lump from next year

Exclusive Interview by Helixtap Technologies with Mr Camara Issouf, Administrator, APROMAC

16 Oct 2023

Rubber producer margins might improve, but supply glut could dampen the luster

A look at the current rubber physical market shows spot rubber prices hovering at the peak levels for 2023. However, with rubber production still outpacing global demand growth, margins will remain constant for at least the next two quarters, given the ongoing shortage in raw materials continues.

13 Oct 2023

Helixtap Price Signals flash update: Spike in Thai cup lump cost limits processors’ ability to compete with other grades

Since September, most physical rubber grades have traded sideways with a slight downward trend along with the SICOM TSR20 first position futures. Among physical assessments, SIR20 and STR20 remain above the US$1,400/mt level. AFR10 (implied FOB, IVC) was observed below US$1,300/mt over September 2023.

12 Oct 2023

Unexpected rains in September halt production; prices steady

Neither giving fresh hopes to the producers nor disappointing the buyers, the Indian rubber sheet market prices kept steady for the past three weeks even as unexpected showers lashed Kerala, the central production hub, in September last week, impeding production.

11 Oct 2023

How much scope is there for substitution between synthetic rubber and natural rubber?

As tires are called on to deliver more performance and at a higher level and all at the same time, the tires; their materials and their assembly become ever more technical. That is to say, the input materials and process need to become ever-more tightly defined in terms of mechanical and physical properties and their chemical interactions with other ingredients.

10 Oct 2023

Bridgestone India, Apollo Tyres stamp fresh ‘green’ marks

Showcasing their commitment to environmental sustainability, two leading Indian tire manufacturers, Bridgestone India and Apollo Tyres, have taken significant steps to reduce their carbon footprint and promote recycling and repurposing in their respective initiatives.

09 Oct 2023

Helixtap China report: Chinese demand likely to rebound post holidays

Back-to-back monetary support from the Chinese government sparked some hope among the market participants for a revival in Chinese demand.

06 Oct 2023

Chinese tire firms keen on stepping out to surmount trade knots

With hostile environs persisting in import duties from the Western bloc, Chinese tire firms are changing tack by shifting manufacturing to the cradles of rubber production to evade the punitive measures while ensuring cost reduction by sourcing the critical raw material at the production base itself.

05 Oct 2023

Producers want ANRPC to be proactive as it meets in India on Oct 9

Even as the two-day 13th annual ANRPC Annual Rubber Conference gets underway in the Indian North-Eastern City of Guwahati the coming Monday (October 9, 2023), the rubber farmers of the host country of India feel that it’s high time ANRPC made a significant intervention to alter the fate of farmers the world over for the better.

04 Oct 2023

Egypt takes twin steps to make an imprint in global tire production

Egypt is making a significant foray onto the global tire production scene with twin initiatives: the first one, a new US$ 1.07 billion tire manufacturing plant to be commissioned in three phases, and the second, a cutting-edge plant for recycling used tires, to be established in collaboration with Germany.

03 Oct 2023

How severe is the impact of EU-China EV spat on rubber demand?

The European probe into China’s electric car industry has caught the rubber market unawares. The rubber market seems to be divided on the impact of a possible trade tension.

02 Oct 2023

Cleaner vs cheaper: the dilemma intensifies ahead of LTC negotiations

Embracing a new deforestation order will surely come at a hefty cost for rubber producers and buyers. However, the critical question is how much higher price the producers and buyers are willing to pay to be inclusive when it is evident that markets like the US or China are unlikely to actively participate in the deforestation race anytime soon.

29 Sep 2023

Vietnam holds ground in exports, looks up to price rises

The Vietnam rubber export recorded the second-best figures of 2023 in August after July. However, the slump in rubber price directly impacted rubber export volumes, with exporters delaying consignments to an extent, anticipating a price revival in the fourth quarter of the year.

28 Sep 2023

Higher crude prices push up SR prices; domestic production too up

Building on the momentum set in late July, the Indian synthetic rubber market continued its upward swing through August to September third week, buoyed by the rise in crude oil prices and the resultant rise in the raw material butadiene price.

27 Sep 2023

Tire industry slips on export growth but still impressive in FY 2023

Indian tire exports, which scaled a record 50% spike in value in FY 2022, could not keep up the momentum in the last fiscal of 2023 (April 2022-March 2023) due to the global headwinds emanating from the interest rate hikes by Central banks, recessionary trends in western economies and the Russo-Ukraine war.

26 Sep 2023

Physical rubber sees double digit price increase but remains below yearly highs

A month ago in mid-August 2023, most physical grades were observed to be at or close to their lowest daily price since the year began. Price assessments in the physical rubber market then registered an increase ranging from US$120/mt to US$200/mt across different grades. With the exception of SIR20, the remaining grades recorded a double digit price increase. A major driving force behind the switch to a bullish price trend was the announcement of several measures to boost investment in the Chine

25 Sep 2023

Helixtap Price Signals flash update: Volatile price differentials heading into LTC negotiation season

In the past fortnight, prices for both physical rubber grades and the SICOM futures continued on an upward trend beyond the US$1,400/mt level. As suggested previously, the respective shorter-term 20 and 50 day moving averages indicated a potential bullish 20/50MA cross.

22 Sep 2023

Nigeria eyes carbon credits, rubber processing to lift profile

Nigeria's rubber industry is revving to reshape its economic landscape even as it fosters environmental sustainability. With the nation seeking alternatives to its long-standing dependence on oil, natural rubber production revitalization is quickly gaining momentum.

21 Sep 2023

Prices near steady as rains play hide and seek, hitting production

Indian rubber prices remain more or less steady, while production has been unable to gather the wanted pace due to the unprecedented near drought-like conditions in August. The resumption of rains to a certain extent in September has kindled the hopes of farmers who feel that they will be able to reap its benefits in October.

20 Sep 2023

The Electric Vehicle (EV) Market Ingredients (Part 2): Rubber’s EV Revolution

Part 2 of the EV Market Ingredients, this time looking at Natural and Synthetic Rubber

19 Sep 2023

Brazil fortifies NR, tire with duties; sets ADD review on NBR

In a significant move aimed at bolstering the domestic rubber industry and addressing challenges posed by international market dynamics, Brazil has announced a substantial increase in the tax rate applied to natural rubber imports.

18 Sep 2023

The Electric Vehicle (EV) Market Ingredients: Spotlight on Lithium (Part 1)

China remains the EV market leader in both supply and demand - we examine Lithium as a raw material in the EV automotive sector.

15 Sep 2023

​​​​​​​July production falls, but exports and consumption go up

Malaysia could not maintain the momentum in rubber production it attained in May and June this year in subsequent July due to heavy rain in some parts, low yield from old plantations, and labor shortage, which resulted in reduced tapping.

14 Sep 2023

What does sustainability mean?

Op-ed on what sustainability means in the context of Tire Companies.

13 Sep 2023

Indian NR sector keeps up pace in Q1 FY 2024

Indian rubber consumption recorded marginal increases in the first quarter of the Financial Year 2024 (April-May 2023), driven by the robust performance of the domestic tire sector. Meanwhile, the farmer-centric initiatives of the Indian Rubber Board supported domestic production.

12 Sep 2023

Cambodia logs decline in earnings in first seven months of 2023

The dip in global rubber values arising from the shocks caused by the Russo-Ukraine war, the Sino-Taiwan conflict, the rising interest rates effected by major Central banks, the weakened Chinese economy, exchange rate fluctuations, and rising inventory levels have negatively impacted Cambodian revenues from rubber exports in the first seven months of 2023.

11 Sep 2023

Narrow margins are back, but will producers slow their output?

2023 has been a tumultuous year for the rubber market. Early this year, prices surged over 3% -4 % and possibly bottomed out this August, settling between US $ 1200-US $ 1300/mt level. Although we have seen a modest rebound in prices earlier in the year, many producers are operating close to or even below breakeven costs, and still, rubber production and inventory levels are high.

08 Sep 2023

Helixtap Price Signals flash update: Prices rebound slower than SICOM, returning to differential discount levels

In the past weeks since 21 August 2023, Helixtap SIR20, STR20 and AFR10 and the SICOM TSR20 futures have recorded a trend of rising prices. These prices have since increased by US$40/mt, US$60/mt, US$105/mt and US$80/mt from their respective YTD lows.

07 Sep 2023

Sri Lanka still struggling, hinges recovery on global markets’ revival

Subdued demand in major global markets continues to cast its dark shadows over the export of rubber and rubber-finished products from Sri Lanka in June and July of this year, placing roadblocks in the struggling island nation's economic economy.

06 Sep 2023

China ADD extension hots up halogenated butyl rubber market

Retaining the import of halogenated butyl rubber into the country expensive, China has decided to continue with the anti-dumping duty (ADD) on the synthetic rubber variety emerging from the US, the EU, and Singapore towards China until the conclusion of an ADD investigation and review by August 20, 2024.

05 Sep 2023

Indian Rubber Board steps in to shield traders, farmers

The Indian Rubber Board has taken the initiative to revitalize the sagging Indian rubber prices by bringing rubber traders and tire firms around a table.

04 Sep 2023

Chinese property crisis denting into rubber market sentiment

China's stumbling economy is posing a considerable threat to any commodity at the moment amid slowing economic activity and deteriorating credit flows amplified by the ongoing property crisis.

31 Aug 2023

Helixtap China report: Expansion in tire exports leads to rise in imports; the fundamentals still weak

Chinese tire exports continued to rise for the third consecutive month in July, lending some support to the Chinese demand for rubber resulting in marginal rise in imports. However, the downcast economy and healthy stock level situation is still looming large over a steady recovery in Chinese demand.

30 Aug 2023

Vietnam spirited in rubber exports despite price slump

Vietnam continued its strong NR export performance in July 2023, propelled by continued vigorous Chinese buying.  However, the lack of a corresponding rise in value has led to lower margins for Vietnamese rubber.

29 Aug 2023

Tripura making deep INROADs in rubber cultivation

Tripura, India's second largest rubber-producing state after Kerala, is raring to make an impressive jump in rubber production. Under the INROAD project piloted by ATMA (Automotive Tyre Manufacturers Association) and Rubber Board, the state aims to bring 30,000 hectares more under rubber cultivation by 2026, significantly raising the area of rubber plantations in the state from the present 85,000 hectares.

28 Aug 2023

China Overall Macro Picture takes a backseat to technical support and fundamentals

The FOB differential between African and Indo/Thai is still wide at 150 USD/MT, looking at Helixtap STR20 and AFR10 assessment. And most prime sellers are wondering if the differential is so wide, why the African sellers still continue to depress the prices?

25 Aug 2023

Indonesia in bid to surmount hostile factors in rubber sector

Indonesia, the world's second-largest exporter of natural rubber, has launched a set of initiatives to overcome the factors that retard its growth in the NR sector. As part of it, the country has warmed up to the leader in the segment, Thailand, to address the major issue of falling prices of NR.

25 Aug 2023

Indian tire majors upbeat in Q1 FY 2024 on domestic push

Indian tire majors repeated the sterling performance in Q4 of FY 2023 in the Q1 of FY 2024 (April 2023-March 2024) too on the back of prolonging lower raw material prices and robust demand from the domestic auto industry, which is having a splendid run, along with brisk orders from the domestic replacement market.

23 Aug 2023

Malaysia keeps momentum in production; exports rise MoM

Malaysia is maintaining the uptrend in Natural Rubber (NR) production, registered for the first time in May this year, in June also, showing consistent results from the measures taken by the government to up production, amid slight improvement in the weather, but prices are a concern as supply eases.

21 Aug 2023

Prices sliding, but farmers have a silver lining in climate-based insurance

The Indian rubber prices are on a downswing, propelled by the spurt in domestic production post the first spell of monsoon showers and the downcast international prices.

18 Aug 2023

Helixtap Price Signals flash update: YTD Lows in Prices, SICOM indicates slowing downward trend

Following the previous update, Helixtap SIR20, STR20 and AFR10 (CIF RTM/HH) were all assessed at the lowest prices Year-to-date (YTD) in early August 2023. YTD lows for each grade were recorded at US$1,325/mt, US$1,315/mt and US$1,230/mt respectively. Likewise, first position SICOM TSR20 (P1, immediate month) futures also recorded the lowest value YTD at US$1,277/mt.

17 Aug 2023

Indian SR consumption goes up in FY 2023; production down

India's Synthetic Rubber production decreased by 3.6% in FY 2023 (April 2022-March 2023), while consumption increased by 5.1%, and imports were marginally down by .14% compared to the previous financial year (FY 2022).

16 Aug 2023

Thailand sets lofty goals in exports, not to miss sustainability goals too

Thailand, the global leader in rubber production and exports, has turned ambitious on both fronts while asserting that it’s not dampened by the downturn in international markets due to the Russia-Ukraine war and the slowing of Western and Chinese economies.

14 Aug 2023

RRII yields tangible results for the Indian rubber sector

The Rubber Research Institute of India (RRII) is making remarkable strides in the development of clones, which in turn contribute to tremendous improvement in productivity, helping India trim down reliance on rubber imports and save on foreign exchange reserves.

11 Aug 2023

Helixtap Quarterly Production and Consumption Analysis: Consumption in Q1 2023 decreased for the first time since 2007 aside from years where economic crises occurred

Due to the nature of wintering across various regions, production exhibits a seasonal trend, producing less rubber in the first half of each year. Historical data since 2007 indicates that over the first quarter (Q1), production increased about 63% of the time against the same quarter in the preceding year.

10 Aug 2023

Indian tire industry in bid to dodge roadblocks to tap export potential - In conversation with Rajiv Budhraja, Director-General, Automotive Tire Manufacturers Association

The Indian tire industry, which clocked exports worth INR 22,000 in FY 2022 with a year-on-year increase of 50% in value terms, is peeved that India’s share in global tire exports remains minuscule at 3.1% despite being one of the largest tire manufacturers in the world.

08 Aug 2023

Helixtap China report: Slowdown in African rubber inflow despite price correction

Cheaper in-warehouse stock widened the gap between international rubber and domestic rubber prices, slowing the inflow of African rubber into China.

07 Aug 2023

EUDR complicates tire makers relationship with NR

Op-ed piece linking NR and SR relationship amidst EUDR ruling.

04 Aug 2023

Global price falls a worry, but Cambodia cruises ahead

Cambodian rubber exports face the heat from a downward spiral in global prices, but the export of rubber and rubber articles has registered growth, offering a mixed bag of fortune for the Southeast Asian Kingdom in the first half of the year.

04 Aug 2023

Prices near steady; production to go up from August

Indian domestic rubber market prices kept almost steady in July 2023, owing to less stable production and supply. Tire-makers made guarded purchases of sheet rubber, whereas field latex prices hovered high due to short supply amid robust demand.

02 Aug 2023

Factory closures to transform supply situation for years to come, what does it mean for buyers?

The recent slowdown in demand following a difficult 2022 has sent shockwaves across the rubber sector. The shrinking of the rubber economy amid the upcoming EU’s Deforestation-Free Regulation (EUDR) will likely be a game changer, especially in the coming years.

01 Aug 2023

Indian tyre industry to clock US$ 22 billion in revenue in 2032

The Indian tire industry is on a roll, driving up to more than doubling its revenue to US$22 billion by fiscal 2032 from US$9 billion in fiscal 2022, riding on the shift towards premium and higher-end vehicles in the Indian automobile market, especially in the passenger vehicle segment.

31 Jul 2023

Sri Lanka betters position marginally, sees hope post Q3

Sri Lanka, which has been battling an economic crisis for quite some time, is also struggling to get a strong foothold in the export of rubber and rubber products, with the fifth month of 2023 presenting only a marginal increase in exports while the figures for the five months up to May are dismal.

28 Jul 2023

The Evolution of EV Manufacturing - Part 2

Given the race for EV dominance and China leading the way on more aggressive subsidies and already controlling most of the battery manufacturing, we deep dive in to various policies and OEM auto manufacturers initiatives.

27 Jul 2023

Helixtap Price Signals flash update: STR, AFR and SICOM prices at lowest level YTD; Thai processing margin estimates shrinking over July

STR20, AFR10(CIF RTM/HH) price assessments and the SICOM TSR20 futures have reached a new YTD low in the second half of July 2023.

26 Jul 2023

EXCLUSIVE conversation with M Vasanthagesan, Executive Director, Rubber Board: Rubber Census set to touch half mark; production will go up

The first-ever Rubber Census undertaken in India by the Indian Rubber Board since 2021 is 40% complete now, and the remaining phases will be completed without delay, said M Vasanthagesan, Executive Director, Rubber Board, in an exclusive conversation with Helixtap Technologies.

25 Jul 2023

Decline in Vietnam's H1 2023 figures; June position improves

Slow Chinese domestic recovery continues to negatively impact the export of Vietnamese rubber, especially in the value it gets, but the resilient Vietnamese rubber sector surged in month-on-month exports in June, making most of the available global opportunities.

24 Jul 2023

EXCLUSIVE: New rubber law discussions leave Indian farmers high and dry

The rubber producers in India, the majority of them concentrated in Kerala state, are dazed after holding a round of discussions with Amardeep Singh Bhatia, Additional Secretary, Department of Commerce, Government of India, on the new Rubber Law being mooted by the Government of India to regulate the rubber sector better.

21 Jul 2023

Helixtap Inventory Analysis: STR20 prices continue trending down with INE TSR inventory above 50,000 mt since April 2023

The above table represents the monthly average Standard Chinese Rubber (Whole Field) / Ribbed Smoked Sheets of Grade 3 (SCR WF/RSS3) stocks on warrant in Shanghai Futures Exchange (SHFE) warehouses. Following the previous article earlier in February, the average daily inventory on warrant each month has remained lower than last November. Inventory cannot be more than two years old and their receipts that expire must be retendered in the following year. This is likely the reason for a large drawd

20 Jul 2023

Malaysia records uptick in production, imports too go up

Malaysia, for the first time in 2023, recorded a month-on-month increase in Natural Rubber production in May, getting the better of heatwave conditions and on the strength of the continuing push given by the Government to augment rubber production by smallholders.

18 Jul 2023

Indian tire majors on expansion, consolidation mode

With JK Tyre completing the expansion of its radial tire manufacturing unit in Madhya Pradesh State, Apollo Tyres lining up INR 1100 crore for capital expenditure, and CEAT increasing its stake in online tire-selling firm Tyresnmore, the Indian tire majors are bullish on their journey forward. Joining the race, CEAT is debuting with new locally-made Truck Bus Radials for the transport sector at its Kelani plant in neighboring Sri Lanka.

17 Jul 2023

The EUDR: The Irony of Climate Change Discourse - A Helixtap Analysis

The European Commission has granted 18 months for compliance with the EUDR - January 2025. We analyze several commodities, deep dive in to the EUDR and share our analysis on this topic.

14 Jul 2023

Helixtap China report: China’s lagging demand intensified international price competition

China lifted its pandemic-related social restrictions for around roughly six months. However, the rebound expected in demand is still awaited. Drop in imports, rising stock level and no scope for arbitrage has made it evident that boosting the economy might not be a quick fix.

13 Jul 2023

Helixtap Price Signals flash update: Indo, African margin estimates approaching their lowest level Year-to-date

The 50-day Moving Average (50MA) is approaching the 200-day Moving Average for SICOM TSR20 First Position (P1, currently August 2023 expiry) contracts. If the 50MA crosses below the 200MA, a longer-term downward price trend is expected in the next few months.

12 Jul 2023

EXCLUSIVE: Dialogue with World Bank kindles hopes of Kerala rubber producers

Lending a ray of hope for rubber farmers in Kerala, a World Bank team has held a round of discussions with them and the Rubber Board under an initiative by the Kerala Government to extend loans at lesser interest rates from the multilateral body.

12 Jul 2023

What is happening in China’s tire industry?

The short- and mid-term trend is about poor domestic demand and the very slow recovery from the government’s Covid management policies, most notably the release of many travel restrictions in December 2022.

11 Jul 2023

Indonesian and Thai factories stopping production due to poor margins

Market intelligence suggests that overall sentiment in the market remains poor with buying interest being tepid. Offers for Indonesian and Thai grades today remain range bound for the week. AFR10 prices are still put under pressure due to a huge volume being available in the market. A part of this volume was being offered in China at competitive prices, potentially displacing some STR exports to China. Market participants expect demand from China to remain weak in the months ahead due to macroec

10 Jul 2023

Cambodia’s export earnings dwindle; tire firms yet to make impact

Despite launching a few tire firms on its soil in recent times, Cambodia seems unable to tilt its reliance on the export market for rubber latex sales. As such, their target of getting better prices for latex was not achieved.

07 Jul 2023

EU attempts to recalibrate buying strategy, de-risking from Asia

The abrupt disruptions in the past two years may have prompted the European buyers to recalibrate their buying strategy when the region hopes to recover after years of pandemic-hit growth and spur increasing competition for rubber from outside southeast Asia.

06 Jul 2023

Increase in Chinese demand this year failed to provide much needed boost to market

Over the trading day on 5th July, most market participants signalled a quiet market with reduced activity. Sentiment on market prices continues to be poor, with some market participants even stating current conditions have been the worst in over 40 years. A major tyre manufacturer was said to have reduced bid prices, and market activity was perceived to be slower than 4th July. Aside from sentiment, prices were mostly heard to be in the same range as before, or even lower in some cases.

06 Jul 2023

Rains pushing Indian rubber prices up, but producers can’t cash in

With rains lashing in full vigour from July 2, for the first time since the onset of monsoon a month ago, the sheet rubber prices are showing an upward trend. Likewise, an increase in latex prices are upsetting the calculations of both producers and buyers.

05 Jul 2023

Helixtap Analysis: Yuan and Yen depreciating against the USD suggests international grades are less attractive than before

Since the preceding article in early April, both the Indo and Thai cup lump recorded an increase in price spreads over African cup lump (using APROMAC reference prices). Out of the 3 regions, market intelligence back in mid-May suggested Africa started to see cup lump supply return to normal levels. In contrast, cup lump supply in Indonesia and Thailand was disrupted for a prolonged period of time due to harsh weather conditions, cycling between heavy rains and dry, hot weather. African producer

04 Jul 2023

The Evolution of EV Manufacturing - Part 1

There has been a noticeable wave in sustainability in the tyre industry, with major players launching their own unique initiatives to support ESG goals and greater climate change alleviation. But what of the automotive industry that these very tyres serve – what role are car manufacturers adopting in the global pursuit of a more sustainable future?

04 Jul 2023

Philippines in concerted bid to bolster rubber sector

Badly mauled by the Pestalotiopsis Leaf Fall Disease (PLFD), the Philippines is forging strategies to revitalise and position its rubber sector side by side with other South-East Asian majors.

03 Jul 2023

SR prices south-bound amid plummeting butadiene prices

The Indian Synthetic Rubber (SR) prices continued to spiral downward in May and June 2023, weighed down by the steep fall in raw material butadiene prices and the lull in global downstream demand amid China’s weak performance.

28 Jun 2023

Helixtap Monthly Production and Consumption Analysis: Consumption data indicative that Chinese demand not yet above pre-pandemic levels

Since 2021, the core producer group of countries have mostly recorded a year-over-year increase in 22 out of the 27 months of available data. This group of countries include Thailand, Indonesia, Vietnam, China, India, Ivory Coast and Malaysia. They are selected and featured in IRSG monthly report updates.

28 Jun 2023

Vietnam’s export prospects brighten up in May

Reversing losses suffered in the first four months of 2023, Vietnam registered positive growth in rubber exports for both volume and value in May 2023. Vietnamese rubber exports in May 2023 amounted to 110,000 tons valued at US$149 million, which marks a 25% rise in volume and a 23% rise in value month-on-month. The escalating Chinese imports driven up by an increased economic activity is the main contributor to such a growth. Compared to May 2022, the exports in May 2023, however, decreased

26 Jun 2023

Quiet week ahead of upcoming Chinese dragon boat festival

Over the week, the general market sentiment is that the physical rubber market is experiencing a lull period. Some attribute the slowed activity to the Chinese currently on holiday for the Dragon Boat Festival. Prices were also reported to have gone down for the day.

26 Jun 2023

Helixtap Price Signals flash update: Appreciating USD detrimental to international consumers but provides support for processing margins

SIR20 has registered a 20/50MA bearish cross on 20 June 2023. The price trends following this are likely to trend downward for the upcoming period of time. Physical price differentials over the first position SICOM TSR20 (immediate month contracts) have continued to narrow since the last update.

23 Jun 2023

Sri Lanka battles crises in rubber sector yet again

The Sri Lankan rubber and rubber products sector, which showed signs of recovery in March, relapsed into crisis in April with declining rubber prices, rising input costs, raging fungal disease, and a fall in exports.

22 Jun 2023

Indian latex upstages sheet rubber, but supply remains tight

The Indian rubber market is witnessing a trend of farmgate latex prices upending sheet rubber prices amid lukewarm spot sheet purchases from major tire makers. Most tire majors are content taking delivery of contracts executed in previous months.

21 Jun 2023

Thailand buttresses rubber sector with capital, sustainability inputs

Thailand is zooming in on enhancing the global competitiveness of its rubber and rubber product value chain by ensuring adequate capital flow and reinforcing the sustainability net in 2023, which is set to reward a 5% growth in rubber exports.

19 Jun 2023

Low farmgate prices weighs on Indo rubber farmers’ pocket and sentiment

Plummeting rubber prices and widening gap between farmgate and processed rubber is complicating the rubber planting decisions for Indonesian farmers, with some mulling shifting to other crops while others want to wait and watch.

16 Jun 2023

Helixtap Price Signals flash update: Regional price spreads narrowing; processors estimated at negative margins

This update article covers key price signal highlights observed from the Price Signals tool

15 Jun 2023

Helixtap Analysis: Historical data suggests physical rubber differential premiums over SICOM rarely goes above US$200/mt

Since the preceding article in late March, most physical rubber grades registered increasing differentials against the SICOM TSR20 third position contracts (3 months from date). AFR10 (FOB*) and TSR20 Mixture (CIF China) grades were the only two grades recording a reduction in the differential, with AFR10 remaining the only grade to trade at a discount to SICOM. Coincidentally, both these grades are not TSR20 grade rubber. As highlighted in the article covering the rubber futures, the futures tr

15 Jun 2023

Heat conditions dampen output, revenue in April

As feared by Malaysian rubber producers, high atmospheric temperatures hit their yield and income in April 2023, with rubber trees shedding leaves and latex production decreasing considerably.

15 Jun 2023

Farmers have a ray of hope in IOD as El Nino looms

Indian rubber farmers are a tad downcast in the face of the looming play of the El Nino phenomenon on the Indian monsoon impacting rubber production negatively.

15 Jun 2023

Helixtap China report: Arbitrage from Asia to China unviable, Africa still has some chance

International rubber grades are finding it very difficult to make their way into the Chinese market as domestically produced rubber is currently lower than in the international market. However, given the massive correction in the African rubber prices has resulted in some scope of arbitrage into China.

12 Jun 2023

Vietnam struggles in April too; firms post fall in profit

Vietnam continues to struggle with rubber exports that slumped for the fourth month in 2023, with the main consumer China reporting a massive fall in import volumes in April owing to a slow domestic industrial recovery and a high inventory of both rubber and tires.

12 Jun 2023

Cambodian scales up exports of rubber, tire

Cambodia is witnessing robust progress in rubber and rubber article exports riding on better geo-political and economic conditions, which Cambodian authorities term coming "closer to pre-2020 normalcy."

09 Jun 2023

Helixtap Analysis: Higher Fed rates for longer likely to result in weaker prices

As moving average analysis highlighted in the previous article, prices for the respective Futures declined by more than 9% in the past 3 months. Previously in early March, moving averages for these Futures signalled either bearish or were already bearish in terms of price trends. Prices as of 1 June 2023 registered a US$130/mt decrease for SICOM, along with a US$177/mt and US$161/mt decrease for the respective SHFE and INE Futures. Moving averages analysis are all indicative of a bearish price t

08 Jun 2023

Indian prices come down as imports increase

The Indian rubber market, which witnessed a price rise in recent times are seeing the prices of sheet rubber coming down now while latex prices are at a higher level amid a shortage of the commodity in the domestic market.

07 Jun 2023

Tire Markets - Quick Review of what they are up to

Slow demand for trucks and truck tires in China is at the root cause of the slow demand for rubber from tire factories in China and SE Asia.

05 Jun 2023

Twin blows have Indian tyre industry scurrying for remedies

Indian tire makers are taking legal recourse to remedy twin hostile situations created out of the decisions of Indian and US authorities that deny them a smooth ride in the Indian and US markets, respectively.

05 Jun 2023

Wild weather to roil rubber demand and price

The arrival of El Nino and its potential to bring hotter, drier weather to Southeast Asia will be a crucial test for the rubber industry, posing a high risk to the tapping and production. However, given the overall bearishness in the demand situation, how much of that would translate into elevated prices would be under question.

01 Jun 2023

Helixtap Analysis: Prices still under bearish signals even after trending downwards by US$100/mt

Over the past 3 months, most prices in the physical rubber market registered a decline of US$100/mt or more. As signalled in the previous article covering these prices, most short term signals then for the 20 and 50 day moving averages (MA) were bearish. Then, in early March 2023, AFR10 (CIF assessments) registered a bearish 20/50MA cross.

01 Jun 2023

Indian tire majors dash onto sustainability highway

Spurred by the global thrust on sustainability values, Indian tire makers have moved over to the responsible track in a cogent way to make a lasting impact on the supply chain and the planet.

31 May 2023

Indian RPSs get a breather as Rubber Board removes twin blocks

The Rubber Producers Societies (RPSs) that support the smallholders in India have heaved a partial sigh of relief with the Indian Rubber Board deciding to release INR 4000 (US$ 48) each per hectare of rubber plantations for rain guarding and disease control.

30 May 2023

Tire trade war in full swing with China at the center stage

It is a tit-for-tat import duty trade-off in the tire segment, with China on one side and the EU, Japan, the UK, and the US on the other, taking punitive measures to different stages of their process.

26 May 2023

Indian tire makers mint profit as NR prices keep low

Easing raw material prices led by natural rubber and good domestic demand have enabled the Indian tire majors to post splendid results in Q4 of FY 2023 ending March 31, 2023, turning the figures for the whole of Financial Year 2023 into remarkably rosier than expected.

24 May 2023

Lankan exports improve as March arrests slide

Export of Sri Lankan rubber and rubber finished products improved for the first time in March this year, year-on-year and month-on-month, arresting the fall in performance for the past few months.

24 May 2023

Helixtap Analysis: Shrinking plantation area could lead to market overconsumption as early as 2027

Over the past 20 years, yearly average prices have had a strong linear correlation with newly planted areas at 0.83. New planting activities depend heavily and are greatly influenced by the price trends at each point of time in the past. As prices after 2011 trended downward from the highs, new planting in major producing countries followed suit. However, the price relationship was weak with replanting or total area under plantation, registering 0.13 and 0.14 respectively.

22 May 2023

Elevated input costs a bane for producer, margins under pressure

Elevated input costs owing to some shortages in some of the key Asian rubber-producing nations have become a bane for producers as finished product prices have failed to catch up, casting a shadow on the margins.

22 May 2023

Indian rubber prices upward further, but farmers not stirred

Indian sheet rubber prices are continuing their uptrend, crossing the psychological barrier of INR 160/kg on Tuesday (May 16, 2023) to hit INR 161/kg on Wednesday opening (May 17, 2023), but the majority of smallholders are not enthused, having exhausted most of their stocks and not being able to start full-fledged tapping now.

18 May 2023

Malaysia betters position in March, but climate raises concern

Malaysia's attempts to arrest the slide in rubber production seem to bear fruit, with the month-on-month decline in March 2023 showing remarkable improvement compared to the first two months of the year.

17 May 2023

Helixtap Scenario Analysis: Rubber market likely to be overconsumed by earliest 2033

In the last 16 years, Thailand and Indonesia have remained the top 2 producers for NR worldwide. Countries such as Vietnam, the Ivory Coast, Cambodia, Myanmar and Laos have risen in production rank. Production in other countries such as Malaysia has reduced, likely due to high costs of production domestically. In 2022, Malaysian production stood at 377 kt, about a third of the 1,200 kt produced in 2007. India registered little growth since 2007, producing 843 kt in 2022 compared to 811 kt.

16 May 2023

Indian rubber production in decade high; consumption a record

Buoyed by the increase in production in the North-Eastern states and the revival of idled plantations in Kerala, the NR production in India has crossed the 800,000-ton figure for the first time in a decade in the Financial Year 2022-23 (April 2022-March 2023).

15 May 2023

Vietnam in bid to conquer non-China export markets

Amid the swelling thrust on sustainability worldwide, leading NR producer Vietnam deflects from its China-centric export strategy to train guns on markets like the European Union, the US, and Japan.

11 May 2023

Indian rubber prices on upward spiral amid supply deficit

Indian rubber prices are staging an intelligent rally from March through April to hit the highest figure of INR 156/kg (US$ 1.90) for RSS-4 in the past nine months on May 8, with producers flexing muscles to a certain extent amid the off-season lean production through March and April.

10 May 2023

Prices unlikely to hit historic high above US$5,000/mt until oversupply clears

The global production-consumption cycle has a strong cyclical pattern, due to the cyclical nature of NR production being affected by wintering. The NR market runs a surplus on most months of the year, with March till June the months in which a monthly NR deficit is observed. This aligns with the annual wintering season, where supply falls as trees shed leaves and stop producing latex. In a balanced market where there is no oversupply, prices would rise from a shortage from March till June. Howev

09 May 2023

Low rubber prices, farmer debt too in focus in Thai polls

1.7 million rubber smallholders from an overall adult population of 54.1 million and 14 million farmers in Thailand are among the focus constituencies in the May 14, 2023, Thai general elections to 400 constituent seats in the House of Representatives.

09 May 2023

Helixtap China report: China set for lower rubber influx as arbitrage closes

Widening spread between Chinese warehouse and overseas TSR prices has ruled out the arbitrage of international rubber into China. While the February imports figures have been strong, there is a widespread reluctance among Chinese buyers to book international cargoes, given the rising inventory level.

09 May 2023

Asia remains a stronghold for NR demand for the foreseeable future

Since 2007, the top 10 Natural Rubber (NR) consuming countries in the world have varied widely, with certain countries emerging as major consumers for NR. Consumption in developing countries such as India, Thailand, Brazil and Vietnam have risen, overtaking more developed counterparts in the EU 27 + UK, United States, Japan, Malaysia and Republic of Korea. This may be due to factory processing functions also being carried out in each of these countries due to lower processing costs, before proce

08 May 2023

Rubber producers face margin headwinds over lagging demand recovery

Rubber producers are facing further downward pressure on margins in the near term as disproportionate change in cost and prices coupled with sluggish demand created a disbalance in the rubber economy.

08 May 2023

After Top Glove, Smart Glove breathes easy on US sanctions

Ending a 17-month-long ban, the United States has now allowed the import of products from Malaysian glove maker Smart Glove, clearing it of charges of exploitative labor practices.

04 May 2023

Brazil leads S. American SR market, but others are not so bullish

South America's synthetic rubber market, which drives various downstream sectors such as automobile, construction, packaging, and industrial manufacturing, is estimated to have clocked US$1367.47 in value in 2022, while it is expected to hit a value of US$1898.52 million by 2031 at a CAGR of 4.19%.

02 May 2023

SICOM TSR20 premiums over INE takes an average 3 days to return to a discount

INE TSR20 contracts were listed on the Shanghai International Energy Exchange in August 2019. Over time, the first contract position for SICOM TSR20 and INE TSR20 contracts are compared against the first contract position of the SHFE SCR/RSS contracts. Both spreads show that SCR/RSS have a similar premium over TSR20 prices across both exchanges, but this premium changes over time. By definition, SCR/RSS are higher grade rubber than TSR and are processed from latex directly. TSR20 is instead proc

28 Apr 2023

Cambodia in bid to hit sustainability highway amid not-so-rosy Q1

Cambodia is making a concerted bid to join the sustainability wagon even as the depressed global rubber prices have led to a decline in its export earnings while the volume rose in the first quarter of 2023.

27 Apr 2023

Bastar bets on rubber to vault region into lustrous future

Hard on the heels of the Automotive Tyre Manufacturing Association (ATMA) launching an exhaustive rubber cultivation program in the North-Eastern states in tandem with the Rubber Board of India, the Bastar region in Chattisgarh State of India has come on the radar of the Rubber Board for the same.

26 Apr 2023

Indian SR prices downward amid falling global demand

Reflecting the price movements in crude oil and the derivative raw material butadiene, the prices of Synthetic Rubber in the Indian market increased in the first half of March this year and then moved downward in April.

24 Apr 2023

Vietnam in a rubber trade deficit, increased reliance on African rubber could be more detrimental

Vietnam’s growth decelerated more than expected in March as exports shrank, reflecting the risks that global and domestic challenges pose to the rubber industry.

21 Apr 2023

Smallholders left high and dry as key figures skip milestone event

The 13 lakh rubber smallholders in India who hoped for a milestone event at the Rubber Board headquarters in Kottayam in Kerala on Tuesday (April 18, 2023) to yield tangible results have turned out a disappointed lot.

20 Apr 2023

Rubber production downhill again, but shows moderation

The decline in Malaysian rubber production continued in February, riding on the negative market sentiment due to the slight decrease in crude oil prices, less encouraging China auto sales data, and growing concerns regarding further interest rate hikes in the US.

19 Apr 2023

mRube makes impressive debut, but rubber exports lag

The India Rubber Board's new online trading platform mRube has achieved a turnover of INR 105.55 crore (US$ 12.92 million) in its first year of operation in the 2022-23 financial year. The feat was achieved in just 160 days since inception. mRube traded 8,11,700 kg of rubber during the last FY under 594 trade contracts, making remarkable interventions in strengthening the existing value chain for rubber.

18 Apr 2023

African producers target India as they lower prices to compete

From March till 11 April 2023, Helixtap STR20 has seen a falling trend in the price spread over SIR20. STR20 prices declined US$13/mt against US$53/mt for SIR20. This difference amounts to a US$40/mt reduction in the price spread over 23 trading days. This was the first time STR20 was cheaper than SIR20 since mid-September 2022, or after a 140 day period. SIR20 historically trades at a premium over STR20 68% of the time on a daily basis since 2015. Up till March 2023, the monthly average price s

14 Apr 2023

Myanmar betters rubber export performance in 2022-23

Myanmar is understood to have clocked US$ 500 million in rubber exports in 2022-23 fiscal (April 1-March 31), shipping over 300,000 tons of rubber to different countries.

13 Apr 2023

Malaysia mulls new rubber sector moves amid dipping returns

Faced with a shortage of workforce amid a decline in rubber production, the Malaysian Government is exploring the possibility of allowing refugees and asylum workers in Malaysia to work temporarily in the plantation sector.

12 Apr 2023

Market oversupply shows early signs of easing

Physical rubber and rubber futures prices fell by around $500/t in 2022. Helixtap SIR20, Helixtap STR20 and SICOM TSR20 prices fell by $433/t, $503/t and $476/t respectively last year. Such a downward price trend is the steepest price drop since 2018. Market intelligence attributed the drop in prices to a lack of demand in the market. Buying sentiment was sporadic and cautious for the most part of last year with any buying mostly small volume purchases. Many producers were reported to have diffi

11 Apr 2023

Sri Lankan rubber sector reels under crisis; exports in dire straits

Into the second month of 2023, the Sri Lankan rubber and rubber products sector is digging deep into a crisis, with exports plummeting due to global headwinds arising from the Russia-Ukraine war and Central banks' continued interest rates hikes to battle inflation.

10 Apr 2023

Indo processors face poorer margins as the Rupiah continues climb over USD

For this analysis, the monthly APROMAC prices for African cup lump are assumed to be the same over different weeks in each month. Spreads between regional cup lump prices have been on an upward trend since the year began. Over March, a Thai producer reported production levels being at 25% of the usual level as trees experienced annual wintering and hot weather in the South. The producer also expects Thai supply to be low along with an extended wintering season. Indonesian supplies are also expec

06 Apr 2023

Kerala priest's price salvo has rubber pot boiling

The Indian rubber production scene, especially the one centred around the main hub of Kerala, is witnessing heightened activity over the past fortnight. Prices were slowly rising on the one hand and farmers asserting their right to have a fair price for their produce on the other.

04 Apr 2023

Indian tyre exports upbeat in 2022 despite global tumult

The Indian tyre sector has once again proved its resilience against global headwinds by registering an 18% growth in export value year on year to reach INR 23,488 crore (US$ 2.86 billion) in the 2022 Calendar Year (CY) against INR 19,920 crore (US$ 2.42 billion) in 2021.

03 Apr 2023

Opportunistic buying changing rubber buying patterns

Global demand concerns, despite weather concerns, are unlikely to support rubber exports. Some of the key rubber-producing countries saw a drop in exports in 2022, which is likely to continue in the first half of 2023.

31 Mar 2023

Cambodia’s milestone moment as tire plant starts functioning

China is giving a significant push to Cambodia's aspiration to bolster its downstream of rubber so that its producers get better prices in the domestic market rather than dancing to the tune of global volatility.

30 Mar 2023

Indian NR prices north-bound amid acute supply deficit

Natural rubber prices are staging a smart recovery in the Indian market owing to the lull in production during the current off-season, while traders and downstream operators are actively buying to meet their demand.

29 Mar 2023

Banking sector fallout impact physical rubber differentials to SICOM TSR20 differently

Price differentials since the previous article registered an increase over the third position (P3) SICOM futures across all comparisons listed above. Over the specified time periods, all prices were observed to decline with the SICOM TSR20 P3 futures declining by a larger value. Hence, the differential between physical rubber grades and the SICOM futures increased. For prices previously trading at a premium over SICOM such as STR20 and SMR20, the differential widened by at least US$21/mt. For th

29 Mar 2023

Quantum leap in Bangladesh rubber production but price a concern

Rubber production in Bangladesh is making giant strides, helping the domestic downstream industries meet their demand from the domestic rubber supply.

27 Mar 2023

Indian Rubber Board sets ball rolling for realising carbon credits

Upping its sustainability ante, the Indian Rubber Board has invited Expressions of Interest (EoIs) from agencies in the private/public sector to prepare project proposals for generating carbon credits from rubber smallholdings following internationally accepted standards.

23 Mar 2023

Malaysia struggling with NR production in New Year too

Malaysian NR production continues to be downhill, with the first month in the New Year witnessing a drop of 39.3% YoY, while month-on-month, there is a much lesser fall of 3.6%, whereas the imports are uphill.

23 Mar 2023

Prices more volatile before Fed interest rate decisions

The table above compares the average daily price change (ignoring direction) for SICOM TSR20 P3 in the 14 calendar days up to the Federal interest rate decision and in the following 14 calendar days. The SICOM contracts tend to observe daily price changes being more volatile leading up to the decision as compared to after.

22 Mar 2023

Cambodia rubber exports up despite price falls

Cambodian rubber producers strive to be resilient in the face of adverse price conditions, raising their rubber and rubber wood exports in the first two months of the new year. Still, more enthusiasm must be encouraged to extend tapping or expand the cultivation area.

21 Mar 2023

Rubber faces headwind amid volatile financial market

On the pretext of the ongoing bank crisis in the western economies, the rubber industry needs to revisit its expectation of a rebound in the short term, especially with an apparent oversupply in the market. While the Association of Natural Rubber Producing Countries (ANRPC) still expects to see a supply deficit in 2023, the ground realities are different.

17 Mar 2023

Thailand floats floor price scheme worth US$ 215 million

With a free fall in the rubber price and demand, Thai rubber raw material prices are seeing a different direction compared to 2022 despite March being the peak of wintering.

16 Mar 2023

Lukewarm tire producers keep Indian prices low

Indian domestic sheet rubber prices remained in a range of INR 140-145/kg (US$ 1.70-1.76) for the three weeks ending March 13, refusing to make any significant upswing. The range-bound price trend is attributed to limited buying by tire manufacturers who maintain normal production in their units.

15 Mar 2023

Forex and interest rates a double whammy to determine differential against Chinese futures

Over the month of February this year, rubber prices mostly trended sideways in both the physical and futures markets. For the rubber futures, the lower-priced TSR20 futures rose while the higher-priced NR futures fell. This also reflects a similar trend as within the physical market with the spread narrowing between higher and lower priced grades in the futures.

14 Mar 2023

Asian rubber producers buckle up for EU deforestation law

It's a race against time for the leading rubber-producing nations in South-East Asia and the Indian sub-continent to adhere to the ESG framework as Europe sets out to enforce a ban on deforestation-related goods. No major wonder producers have started to hit the sustainability trail, though China, the primary consumer, is yet to ring any alarm bells.

14 Mar 2023

Physical rubber prices back on bearish trend as growth expected to slow

Over the month of February this year, rubber prices mostly trended sideways in both the physical and futures markets. Within the physical rubber market, all 7 grades saw a small percentage change of below 2%, disregarding direction. The average of all these price changes amounts to a 0.2% increase in physical rubber prices. Just the month before from January up till February, the average percentage change across all 7 physical grades was 5%, with prices increasing across the board.

13 Mar 2023

China jamming breaks on spot rubber buying

China's interest in overseas cargoes is likely curtailed by a lack of pick up in domestic demand and rising stock level, posing a challenge to rubber demand recovery. In addition, the widening spread between prices for TSR 20 from the primary rubber sources and domestic rubber has reduced the price parity for overseas cargoes.

10 Mar 2023

Kerala rubber nurseries resurrect riding on Northeast boom

Kerala, the top rubber-producing state in India, where rubber-producing smallholders lament the steep fall in rubber prices, is witnessing a rubber flourish. Spurred by the Rubber Board and the Automotive Tyre Manufacturers Association (ATMA), rubber production is expected to increase in the short term.

09 Mar 2023

Ripple effect of rising Federal Funds Rates detrimental to rubber market prices

The spot rubber market sentiment remains passive, with scant buying interest from rubber manufacturers. Market intelligence indicates there being weak demand despite plenty offers in the market. A producer source repeated the sentiment that buyer demand was very few and far between. Another market contact also echoed this sentiment as no physical sales were done for the past week. A trader source offered African rubber at par value to SICOM, yet no interest was seen. Such trends further imply th

09 Mar 2023

Sri Lankan rubber export earnings see double digit contraction in January 2023

The island nation of Sri Lanka is battling an unprecedented economic crisis, relying on the International Monetary Fund (IMF) and friendly countries like India and China to bail it out. The government also faces difficulties with setting its rubber and allied sectors in order.

08 Mar 2023

Boom in Indian rubber sectors in 2022

Indian natural rubber production, consumption, and import have improved in the year 2022 compared to 2021, pointing to the robust growth of rubber and its downstream sectors but smallholders are a harried lot due to the steep price falls since July last year.

06 Mar 2023

New year jitters for Vietnam; exports plunge

Vietnam's rubber exports have hit the new year on a plummeting note, unable to retain the bullish trend it commanded last year, fetching a record US$ 3.31 bn in 12 months of 2022 by exporting 2.14 million tons of rubber.

03 Mar 2023

Rubber Board moots its NOC for compound rubber import

Close on the heels of the Indian Government raising the import duty of Compound Rubber (CR) from 10% to 25%, on par with the import duty on Natural Rubber (NR), the Indian Rubber Board has written to the Indian Commerce Ministry requesting the latter to make the Board's No-Objection Certificate (NOC) mandatory for the import of compound rubber.

01 Mar 2023

Well-set rubber park pilots rubber industry growth in Kerala

The Rubber Park India, at Irapuram in Ernakulam district of Kerala, the first rubber park set up in the country to facilitate the growth of the rubber-based industries, is into its 26th year of existence this year, hosting over 45 rubber-based industries on 107 acres. In the new year, it's branching out to a 20-acre campus in the Kollam district with a new unit as part of the State Government policy to have a cluster of rubber-based parks in Kerala, the major rubber-producing state of India. The

27 Feb 2023

Indian synthetic rubber market improves

Bucking the trend prevailing towards the end of last year, synthetic rubber prices are on an upward trajectory in the Indian market. This is largely due to a rebound in demand from OEM auto and tire manufacturers as well as the no-tire non-auto sector in the first two months of this year. External factors like the world’s largest SR consumer China removing its zero Covid-19 policy and dispensing with lockdowns have driven up global demand, equally contributing to the domestic price rise.

23 Feb 2023

Futures lean bearish as prices trade sideways with high open interest

The monthly SICOM TSR20 Futures forward curve saw a reversal in the downward trend over December and January. As shared in the previous Futures article, a positive upturn in the Futures market was observed due to open interest, volume and prices increasing simultaneously. Since then, prices across all 12 positions registered an average increase of US$87/mt or 6.8% over last December. In the following month of January, prices further trended upward by US$72/mt or 5.3% across all positions. Compar

22 Feb 2023

Malaysia rubber production growth outlook in 2023 dims amid falling prices, smallholders drifting

Falling yield and smallholder transitioning away from rubber could mean slower-than-expected growth in Malaysian rubber production this year as producers adapt to a weaker market outlook in 2023.

22 Feb 2023

Leaf disease unleashes mayhem; production may fall by 30%

The specter of fungal leaf disease is threatening the rubber sector in South East Asian nations, with the Philippines, Indonesia, and Malaysia bearing the brunt, but it's less severe in Thailand, while Vietnam is largely insulated for the time being.

21 Feb 2023

Relative strength in Asian currencies cause a squeeze in producer margins

Recent price spreads between Helixtap STR20 and cup lump in Thailand have recently been on an upward trend since the year began. For the three weeks from end-December last year up till mid–January this year, this spread narrowed below US$200/mt for an average of US$151/mt. For those weeks, Helixtap estimated Thai producers were facing negative margins after factoring in processing costs. More recently from mid-January onwards, the spread rose above US$200/mt and registered US$257/mt as of the se

16 Feb 2023

Crisis-hit India rubber producers default on loans

With rubber production losing its sheen in recent months amid prices hitting rock bottom, the smallholders in the rubber hub of Kerala in India are finding it difficult to service their debt with cooperative banks which primarily lend to them.

16 Feb 2023

Indian tire makers cool in FY Q3 despite global gusts

The Indian tire majors are on a roll while the domestic natural rubber producers struggle to find their way forward amid rock-bottom prices.

16 Feb 2023

Physical rubber prices likely impacted by changes in Chinese inventory data

This article seeks to examine the relationship between physical rubber prices and warehouse inventory data from China. Most market participants in the rubber supply chain do not publicly disclose their inventory levels for competitive reasons. As such, warehouse inventory data from China, specifically the Chinese Shanghai Futures Exchange (SHFE) and Shanghai International Energy Exchange (INE), might be the only publicly available data on inventory levels in the global rubber market. Inventory l

14 Feb 2023

Post-rubber production season, India rubber prices yet to lift off

Lack of buying interest from downstream tire and non-tire manufacturers kept the Indian rubber prices southbound as India nears the end of the peak production season.

10 Feb 2023

ASEAN FTA hurdle in bid to rein in CR imports to India

India’s Free Trade Agreement (FTA) with ASEAN countries has come into sharp focus with the Indian Government raising the import duty on compound rubber (CR) from 10% to 25% in the Union Budget for fiscal 2023-2024. The FTA currently provides a preferential duty ranging from 0%-5% to compound rubber imported from ASEAN nations. However, the new import duty of 25% on CR does not automatically apply to ASEAN nations.

10 Feb 2023

Global headwinds dampened Sri Lankan export stride

Sri Lanka has ended the year 2022 with a drop in earnings from rubber, and rubber finished products exports, even as pneumatic and re-treaded rubber tires and tubes have managed to hold ground.

07 Feb 2023

India Rubber - Kerala Budget 2023

The rubber farmers in Kerala, who produce 75% of the nearly 775,000 tons of rubber that India produces a year, have been deeply disappointed by the State Budget presented by the State Finance Minister in the State Assembly on Friday with no specific announcement to raise the floor price of rubber.

06 Feb 2023

Natural Rubber Jan 2023 Helixtap Analysis: Physical rubber prices to stay firm on lower LTC volume booking

The return of some of the major tire makers in the market owing to lower-than-expected long-term contract volume booking kept the physical prices firm, which traditionally takes a dip.

03 Feb 2023

Feb 2023: Tire company results preview

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03 Feb 2023

Helixtap Physical rubber and Futures Differential Analysis: Fundamental changes in price dynamics across physical rubber and rubber futures may lead to possible continued reduction in price differentials

When comparing the physical rubber market price alongside the SICOM TSR20 second position futures, all prices registered an increase since last October. Since the recent Price analysis article in mid January this year, prices in both the physical and futures rubber markets have increased further. This was largely in line with our expectation of a firmer market, particularly for the first two months of the year. Mainly, futures prices for the SICOM TSR20 second position increased the most by 28.

03 Feb 2023

Indian Rubber Union Budget 2023

Brightening up the face of downcast natural rubber farmers who are reeling under price crashes in recent times, the Indian Finance Minister has met their long pending demand to raise the import duty on compound rubber on par with imported NR. Such a move is expected to provide support to domestic rubber prices.

02 Feb 2023

Vietnam fetches record US$ 3.31 bn from rubber exports in 2022

Despite the sharp downturn in global prices, an industrious Vietnam has wound up the Year 2022, scripting its best-ever export figures of US$ 3.31 billion for the 12 months.

01 Feb 2023

China brings iron-based SBR to spin a new course for SR

Sinopec's Baling Petrochemical has joined hands with the Qingdao Institute of Energy in China for the industrial-scale production of 'iron-based' solution-polymerized styrene butadiene rubber (SBR).

31 Jan 2023

Cambodian rubber volume up but value down on bear international market

Despite a sluggish 2022, Cambodian rubber exports clocked a marginal rise of 1.08% in volume in 2022 for being an economical option. However, the earnings declined with the overall decline in international prices.

30 Jan 2023

Producers apprehensive ahead of the China return

The spot market rally paused during the day owing to apprehension amid producers ahead of China’s return next week, despite some support over the week due to some buying from the tire majors.

30 Jan 2023

Indian tire industry poised for US$ 12.26 billion turnover by 2026

The Indian tire industry is poised to notch a turnover of Rs 1 lakh crore (US$ 12.26 billion) in the next three years from the current annual turnover of Rs 75,000 crore (US$ 9.19 billion).

27 Jan 2023

JPX | Japan Rubber Futures Weekly Report: 16 - 20 January 2023

Last week, rubber prices in both futures and the physical rubber market saw an increment heading into the Lunar New Year. Since the last article, significant policy changes were observed from China. Border restrictions and zero-Covid policies were removed, resulting in positive market sentiment on rubber demand from the world’s largest rubber consumer. Due to holiday celebrations, trading across the exchanges is expected to be muted and resume from 30th January onward.

26 Jan 2023

Helixtap JPX report summary: Price dynamics see possible return to positive margin territory for producers

Last week, rubber prices in both futures and the physical rubber market saw an increment heading into the Lunar New Year. Since the last article, significant policy changes were observed from China. Border restrictions and zero-Covid policies were removed, resulting in positive market sentiment on rubber demand from the world’s largest rubber consumer. Due to holiday celebrations, trading across the exchanges is expected to be muted and resume from 30th January onward.

26 Jan 2023

Helixtap Physical Rubber and Futures Price Analysis: Prices on an upward trend, increasing by more than 13% since last October

Since end-October 2022, prices across the rubber grades above recorded increments by at least 13% up till mid-January this year. Across physical grade rubbers, prices increased in a range of 15% for African rubber to 17% for Thai Rubber. Following the analysis in the previous article indicating a small difference for AFR10 between MAs, prices returned toward an upward trend as the 20MA moved above the 50MA. As physical rubber grades generally trade in the same direction, the same upward price tr

19 Jan 2023

Reprieve for Indian tire majors in anti-cartelization case

National Company Law Appellate Tribunal (NCLAT) order to re-examine the penalty fine charged by the Competition Commission of India (CCI) under anti-cartelization investigation has come as a breather for the Indian tire majors.

19 Jan 2023

Vast rubber estate to give way to new airport in Kerala

The Government of Kerala is proposing to construct a greenfield airport over a vast rubber estate in the region which is the rubber production hub of India. With the country's North-East region gaining focus on rubber production and continued weakness in rubber prices, such a move could be set back for the Indian rubber industry.

18 Jan 2023

Spot rallied on upbeat tire makers outlook & China restocking

Spot market rallied with the return of some of the major tire makers and some last moment restocking from China, driven by some positive global cues. However, while the producers tried to book profits, there was some caution amid the market.

18 Jan 2023

Possible opportunistic Chinese buying post Lunar New Year could support physical market

The rubber producers are reeling from the recent price rebound, mainly driven by China’s reopening and restocking. However, skepticism is undoubtedly prevalent among the market participants as they try to assess the situation post the Lunar New Year holidays. While there are some positive global cues, various other factors could tip the scale either way.

17 Jan 2023

Indian Rubber prices slide continues

The sheet rubber prices in the Indian market have failed to cap their free fall even in the New Year, squeezing the margins for the rubber producers battling lower prices since August 2022. In addition, the lukewarm interest by tire producers, who of late have reduced production due to weak demand for tires in both domestic and export markets, is bringing down the rubber prices.

13 Jan 2023

Indian SR prices down; production lags consumption growth

The key synthetic rubber (SR) variants are witnessing price drops in the Indian market in light of weak demand from OEM tire manufacturers and the replacement segment for commercial vehicles, whereas the final quarter of the financial year (FY23-Jan to March) is viewed with optimism to reverse the trend.

10 Jan 2023

Cambodia fails to make headway in Oct, Nov

Cambodian rubber and rubber wood export sector crawled to close 2022 with a revenue-losing streak, weighed down by the prolonged decline in global prices on account of global headwinds, including the resurgence in Covid-19 in China, Russia-Ukraine conflict and anti-inflationary measures by Central banks in the West.

09 Jan 2023

Early optimism on futures dampened, market being supported by China

Earlier gains in futures tapered off today, as physical prices continued to trade at a discount for several grades.

06 Jan 2023

Helixtap Physical Rubber margins and intra regional spreads analysis: Regional physical rubber price spreads over cup lump estimated to have fallen by more than 55% over 2022

On a monthly basis, the lowest physical - raw material spreads since September 2021 were observed over last December. On average, Helixtap STR20 price spreads over Thai Raw Material recorded US$213/mt for the month. This monthly average was the lowest in 16 months. The average monthly STR20 price spread over Thai Raw Materials registered US$296/mt. For last December, Helixtap SIR20 - Indo Raw Material price spreads averaged US$64/mt. Likewise, it was the lowest monthly value observed for the fir

05 Jan 2023

Legislation in the tire industry is increasing

Now, legislators are starting to look into the composition of tires, through the EU de-forestation rules and possible restrictions on 6PPD in California; the EU is introducing requirements on making products that can be more easily recycled and also seeking self-sufficiency in its list of critical raw materials. Natural rubber is included in this list.

05 Jan 2023

What’s next for rubber – Bearish prices on supply glut or possible overconsumption

Following on from all the global economic turmoil seen in 2022, amid the recent surge in Covid-cases in China, 2023 is likely to present a fresh set of challenges for the rubber market. Amid the bearish demand cues amplified by the expectation of a slow tire market recovery, rubber prices will likely remain bearish in 2023. As a result, rubber production in some of the major producing countries like Indonesia may take a hit.

30 Dec 2022

Tripura’s impressive latex export as Northeast ups rubber profile in Indian domestic production

The India Rubber Board has mooted an INR 500 crore (US$ 60.63 million) development plan for the rubber processing sector in the second-largest rubber-producing state of Tripura, which is making impressive strides in the sector by exporting latex valued at INR 1.24 million (US$15,245) to neighboring Nepal in November 2022.

29 Dec 2022

Vietnam exports set to cross US$ 3 billion mark in 2022

Vietnam will likely cross the US$ 3 billion mark in export value in 2022 amid sustained sturdy performance in rubber production despite price plunges and inclement weather.

29 Dec 2022

Indian Govt think tank suggest disbanding Rubber Board; sparks unrest

The Indian rubber sector is amid an upheaval, with the Indian Government exploring the possibility of repealing the rubber law and disbanding the Rubber Board while bringing a Rubber Promotion and Development Agency through an executive order.

28 Dec 2022

Protest for a decent floor price intensifies in India

Amid consistent bearish rubber prices, the Opposition Member of Parliament (MP) raised the issue within the Indian Parliament seeking a reasonable floor price for the cash crop.

28 Dec 2022

Prices remain steady but downward pressure lingers

Physical rubber prices across all grades are assessed to remain steady. Trading activities were largely muted as many market participants have started their year-end holidays.

23 Dec 2022

Helixtap Physical rubber and Futures Differential Analysis: Likely differing directional changes for regional physical rubber SICOM price differentials

For the physical rubber SICOM price differential analysis in this article, each differential now compares the assessed physical price against the second and third position (P2 & P3) SICOM TSR20 Futures (i.e. February and March 2023 contract as of December 2022). Previously, the first position SICOM TSR20 contract was compared against physical assessments with prices valid for cargo shipments due in about 2 to 3 months in the future. As the same time period is now being compared, each differentia

23 Dec 2022

Fall in Malaysian NR output for third month in a row

The volatile global NR prices amid weakened Chinese demand and global headwinds have had a depressing effect on Malaysian rubber production for the third consecutive month in October, with NR output falling by 10.3% month-on-month. As a  result, the NR production in October was 31,795 tons, down from 35,460 tons in September, and dropped 26.3% on a year-on-year basis.

22 Dec 2022

Rubber poised for more spot volume in 2023 as LTC volume takes a hit

The rubber market is poised to see more spot volume in 2023 as several long-term contracts are yet to settle amid apprehensive buyers, which traditionally wraps up by the end of November or early December.

21 Dec 2022

Sri Lanka market downcast; Michelin steps in to aid smallholders

Despite lower output owing to widespread rains, the Sri Lankan rubber and rubber finished goods market didn't trend upwards due to less demand. As a result, rubber product manufacturers and exporters indicated a lesser interest in Colombo auctions.

19 Dec 2022

Futures curve flat across till June 2023 - what’s the next play?

The futures prices converged to the lowest possible denominator - currently Indonesian grade - and interestingly, was flat across the curve for most of 2023 at around 1,370 USD/MT. This represents the very mixed trend in the market with 2 opposing forces.

16 Dec 2022

Helixtap Rubber Futures Market Analysis: Bullish momentum for prices observed over November

In the earlier edition of the Futures Market Analysis article in early October, prices registered at least a US$400/mt decrease across the 12 contract months from March till September. Since then, there was no change in the direction of prices, continuing to move south over October and November. As of November, the price difference between the 12 contracts since March ranges from US$475/mt to US$498/mt, a reduction of about 27%.

15 Dec 2022

India RSS prices at a two-year low, latex rallying

Two-and-a-half months after the Indian Rubber Board convinced and cajoled the tiremakers into returning to the market to make purchases to arrest the rubber price slide, the sheet rubber prices are again tumbling, hitting the lowest in over two years amid bearish buying interest.

15 Dec 2022

Desperate Rubber Board in bid to lure youths to rubber production

Ringing alarm bells over the aging population in the Indian rubber sector, the Indian Rubber Board has hit on a campaign to lure the young generation to rubber production, citing the opportunities it offers even as sliding prices linger as a dampener. The Rubber Board has carved extra roles for the youth in carbon trading that it proposes to bring in ESG goals and digital trading.

13 Dec 2022

Pressure on Govts as Indian parties back producers’ stirs

The agitations by Indian rubber farmers over declining prices are generating responses with mainstream political parties taking up the cause bringing pressure on the governments to increase the support price for rubber and support farmers.

09 Dec 2022

2023 term negotiations to slow as consumer look to spot market

Term negotiations for 2023 Thai rubber might take a challenging turn for buyers and sellers following the uptick in demand from China, which eased the prices amid a short-supplied market despite the bearish cues for next year's demand.

09 Dec 2022

Vietnam feels the heat from Indonesia

Competitive Indonesian physical prices might weigh on Vietnam's rubber demand in China. China's relaxing its Covid restrictions and a widening spread between Vietnam and Indo rubber might reopen the arbitrage economics between Indonesia and China, especially amid expectations of heavy rains in Vietnam.

07 Dec 2022

China continues to lag global tire markets

The tire industry continues to be dogged by uncertainty and lack of visibility for the future. China is the biggest drag on tire volumes around the world.

07 Dec 2022

Helixtap Physical Rubber and Futures Price Analysis: Rubber prices likely to see recovery once the supply overhang clears

In line with worsening rubber demand, prices in the market were seen to fall across the board so far this year. Amongst the rubber grades, Indonesian rubber registered the largest decline of 30% while African rubber decreased least by 24%. In the SICOM Futures, a similar price decrease to the physical market was recorded at 27%. On the whole, rubber prices in the physical and futures markets followed a consistent pattern since the end of March this year. Short term moving averages indicated a fa

05 Dec 2022

Rubfarm pioneers smallholder value addition in India rubber chain

Smallholders in the rubber hub of Kerala in India have upped their efforts to make their presence felt downstream of the rubber value chain so that they don't have to be at the mercy of tire makers and other players down the lane to make a decent earning.

02 Dec 2022

Indonesian Grade Rubber Cheapest - Indicator of support level or weak global rubber demand?

Prices continued to remain supported despite China protests, but the market remains uncertain of global demand going forward.

01 Dec 2022

JPX | Japan Rubber Futures Weekly Report: 21 - 25 November 2022

Rubber prices in the physical and futures markets declined in the past week ended 25 November this year. Chinese Covid policies were last eased in mid-November, changing quarantine measures. With a recent rise in cases, cities like Beijing implemented new testing requirements while Shanghai imposed movement restrictions for new arrivals into the city. In Chengdu, mass testing was also announced, mandating a compulsory test each day for five consecutive days. Consequently, protests emerged over last weekend in several areas within China, demanding ease of mobility rather than having to take a test each time before leaving home. This likely impacted the sentiment for the Chinese economy, causing prices to continue south.

30 Nov 2022

Helixtap JPX report summary: Chinese inventories drawn down from highest weekly levels due to weak Yuan

Rubber prices in the physical and futures markets declined in the past week ended 25 November this year. Chinese Covid policies were last eased in mid-November, changing quarantine measures. With a recent rise in cases, cities like Beijing implemented new testing requirements while Shanghai imposed movement restrictions for new arrivals into the city. In Chengdu, mass testing was also announced, mandating a compulsory test each day for five consecutive days. Consequently, protests emerged over l

28 Nov 2022

Revenue lift for Indian tire majors, but Apollo alone ups profit in H1

The Indian tire majors remained resilient, bettering their revenue in the first half of the current fiscal (April-Sept 2022) compared to the previous fiscal’s first half. Still, augmented costs amid soaring inflation have eaten into their profits, except for Apollo Tyres.

25 Nov 2022

Malaysian production, smallholders moving away

Bearish rubber prices and diminishing contributions from the smallholders weighed heavily on Malaysian rubber production as output dropped for a second consecutive month in September. Amid drastic correction in the rubber prices, the contribution of smallholders fell 21% year-on-year from January to September 2022.

24 Nov 2022

India rejects plea for SBR ADD on EU, Korea, Thai suppliers

The Indian Government has rejected the recommendation of the Director General of Trade Remedies (DGTR) under the Indian Department of Commerce to extend the anti-dumping duty on Styrene Butadiene Rubber (SBR) imports from Europe, South Korea, and Thailand for the next three years from 2022.

22 Nov 2022

Changing dynamics – Hainan, Halcyon deal

With the profitability of the Indonesian producers under duress owing to bearish physical prices, Hainan rubber acquired a 36% stake in Halcyon Agri (HAC), looking at securing long-term supply as most tire producers expect more volatility in 2023.

21 Nov 2022

Africa to carve out larger share in rubber market in 2023

Africa is positioning itself to supply more rubber to Europe and Asia as traditional producers grapple with price volatility and revise their production to maintain cash flow. The buyers, too, looked to diversify amid a plethora of black swan events, and analysis suggests the trend could become more pronounced in 2023.

18 Nov 2022

Indo rubber diverted to China as arbitrage window widens

The widening spread between Thai and Indo rubber has reopened the arbitrage economics between Indonesia and China. As a result, despite the limited movement of Indonesian rubber into the Chinese market traditionally, a few delayed cargoes have been diverted to China, leading to a 13% rise in exports in September 2022 compared to August.

17 Nov 2022

Farmer stirs pick up pace in rubber hotbed of Kerala

Fresh bouts of farmer protests have erupted in India's rubber capital of Kerala, demanding the Central and State Governments step in to revive low rubber prices and bring succor to the rubber-reliant eight lakh households in the state.

16 Nov 2022

Cambodian export earnings down 9% amid global headwinds

The slump in global rubber prices continues to have its domino effect on Cambodian rubber, with the earnings from rubber latex and wood exports dropping 9% in the first nine months of 2022 year-on-year, sharper than the 6.7% drop in the first eight months.

15 Nov 2022

JPX | Japan Rubber Futures Weekly Report: 07 - 11 November 2022

Most major stock indexes listed within the JPX report as well as rubber futures showed an increase in the preceding week ended 11 November this year. Indicators such as a weaker-than-expected US CPI for October and China announcing some relaxation of Covid-19 measures may have contributed to this positive move. The previous Helixtap summary two weeks ago was observed to have prices falling across the board. In comparison, most futures across the exchanges now indicate some price recovery, other than RSS3 Futures in the Osaka Exchange (OSE).

14 Nov 2022

Helixtap JPX report Summary: Indonesian rubber seeing less interest from Chinese buyers compared to Thai rubber

Most major stock indexes listed within the JPX report as well as rubber futures showed an increase in the preceding week ended 11 November this year. Indicators such as a weaker-than-expected US CPI for October and China announcing some relaxation of Covid-19 measures may have contributed to this positive move. The previous Helixtap summary two weeks ago was observed to have prices falling across the board. In comparison, most futures across the exchanges now indicate some price recovery, other

14 Nov 2022

Helixtap Rubber Market Outlook Report 2023: Historical oversupply likely to start easing from 2023

In the 9 years from 2013 to 2021, a surplus in rubber production was observed in most years. Before that, production and consumption were at parity from 2010 to 2012. The highest recorded surplus within this period was an 840,000 tons surplus in 2013 while the largest deficit of 200,000 tons was seen last year. Without taking account of actual inventory levels in the market during the same period, an oversupplied market will likely put downward pressure on prices. In theory, high consumption lev

11 Nov 2022

Rubber producers at a crossroads of a rising cost & lull demand

2022, a year of black swan events, has brought the global economies under the scanner. While the tire industry has been struggling with raw material sourcing, supply chain disruption, and bearish demand, rubber producers witnessed an added set of challenges – unpredictable weather and unwarranted imports.

10 Nov 2022

Rubber Board incentive fails to pep up latex producers

Close on the heels of Indian latex producers and processors expressing their keenness to export latex to the international market with a narrowing gap between domestic and global prices, the Rubber Board has announced an incentive of INR 2000 (US$ 24.46) per ton of latex export. Still, the Indian producers are not overly enthused.

08 Nov 2022

Market rallied up from 2-year low, unlikely to sustain

Spot rubber market rallied this week amid market participants' speculation about China relaxing its stringent Covid policy. However, the market fundamentals, which remained weak, questioned the sustainability of the northbound movement.

04 Nov 2022

Vietnam exports up despite lower prices

Vietnam has posted healthy rubber export figures, volume and value-wise, in the first nine months of 2022, with some support from Chinese demand. However, a marginal month-on-month rise in volume while the drop in value painted a grim picture.

04 Nov 2022

India looks to export latex as gap narrows with international prices

Piqued by the rock-bottom prices for latex in the domestic market, the Indian producers are seeking ways to venture into the international market, given the narrowing spread between global and Indian latex prices.

04 Nov 2022

Global tire industry in October 2022 - a review

The total global market for tires in 2022 is likely to end up slightly ahead of 2021, but below the total in 2019.

02 Nov 2022

Helixtap Rubber Market Outlook Report 2023: Global rubber prices to remain steady or trend up slightly

In our analysis, global nominal GDP is used as a proxy for demand in the rubber market. Apart from the year 2018, prices in the physical rubber market, as represented by Helixtap STR20 and SIR20 and the SICOM TSR20 Position 1 Futures were observed to move in the same direction as global GDP. Based on historical data, it is likely that global GDP growth will indicate the price direction for global rubber prices.

01 Nov 2022

JPX | Japan Rubber Futures Weekly Report: 24 - 28 October 2022

Rubber Futures continued on a decline throughout the month of October, where prices across exchanges saw a third week-on-week fall since end-September. A major reason attributing to the decline are newly announced lockdowns in China and new Omicron variants BF.7 and BA.5. Weaker indicators were also seen in Japan along with a 75bps rate hike by the ECB. Although Chinese GDP growth at 3.9% for the third quarter was higher than the market expectation by 0.4%, overall market sentiment was weak. As mentioned in the previous report summary, lockdowns have led to an expected fall in Chinese rubber demand. The physical rubber market was also flooded with offers from sellers and had low demand despite prices being the lowest since the third quarter of 2020, about 2 years ago.

31 Oct 2022

Helixtap JPX report Summary: Accelerated fall in prices amidst reimposed Chinese lockdowns

Rubber Futures continued on a decline throughout the month of October, where prices across exchanges saw a third week-on-week fall since end-September. A major reason attributing to the decline are newly announced lockdowns in China and new Omicron variants BF.7 and BA.5. Weaker indicators were also seen in Japan along with a 75bps rate hike by the ECB. Although Chinese GDP growth at 3.9% for the third quarter was higher than the market expectation by 0.4%, overall market sentiment was weak. As

31 Oct 2022

Defaults by China, market flooded

There were reports of defaults from China as the country doubled down on COVID-19 curbs flooding the market with offers and increasing the desperation among the sellers. The panic in the market outweighed the hopes of a dovish stance of the Fed and ECB and the possibility of the U.S. economy not being in a recession yet.

28 Oct 2022

Nigeria steps on the gas for rubber turnaround

Nigeria aims to rediscover the potential of its rubber sector and has set up an eleven-member technical committee to prepare a roadmap to revive the industry in line with the best global practices.

28 Oct 2022

Indian farmers back to agitation to arrest decline

The rubber producers in Kerala, who account for nearly 75% of India’s NR production, have hit the agitation trail demanding government intervention to sustain rubber production amid the plunge in NR prices.

27 Oct 2022

50% drop in premiums for LTC, changing dynamics increase anticipation

The annual long-term contract (LTC) premium for rubber is expected to see a 50% drop amid the bearish global market cues. Meanwhile, due to the volatility of spot markets, buyers are showing some preference for non-traditional sources. However, whether there will be a reduction or increase in contract volume is yet to be seen, especially with prices at a 2-years low.

27 Oct 2022

Bearish end to the week, with SHFE stockpiles reaching a year long high

Spot rubber broke the support level of 1,300 USD/MT whilst futures markets also creeped under 1,250 USD/MT with backwardation observed for December, January and February contracts.

21 Oct 2022

Production decline prompts Malaysian government intervention

Malaysian natural rubber production has declined by 3.8% month on month to around 36,410 tons in August from around 37,840 tonnes in July 2022. The year-on-year drop was around 15.2% from 42,942 tons in August 2021. With smallholders accounting for 87.5% of total production, the Malaysian Government has stepped in to reverse the trend and protect the livelihood of farmers.

21 Oct 2022

Indian rubber prices unchanged, smallholders cut production

The Indian rubber prices remain almost stable, successfully resisting the free fall since July this year. However, the producers’ wish for higher prices has not borne fruit, with tire makers flush with imported inventory, making guarded purchases amid limited tire production.

19 Oct 2022

India imports upstage production, consumption growth

Indian rubber production and consumption have registered single-digit growth in the five months of this fiscal (Apr 22 to Mar 23) leading to August 2022, while imports have gone up by double digits, signaling a revival in the market activity, including the downstream tire and automobile sectors that emerge from the pandemic.

17 Oct 2022

JPX | Japan Rubber Futures Weekly Report: 10 - 14 October 2022

An increase in speculative selling was observed in the futures market for rubber in the past week, with prices across the board falling throughout the exchanges. The price behaviour in the past week is shown to be in contrast to the slight bump in prices after the Chinese holidays in previous years. Prices retraced most of the gains made in OSE over the last week, and fell lower than the fortnight before in SHFE/INE and in SGX. Reports of heavy rain and floods in rubber-producing regions did not lend much support to rubber prices, but Thai raw materials and latex prices saw a slight bump from the reduction in supply. With new recorded Covid-19 cases in China at the end of last week, demand from China is expected to be weak, with an expected increase in lockdowns.

17 Oct 2022

Helixtap JPX report Summary: A slide in rubber prices contrary to expectations post-Chinese Golden Week

An increase in speculative selling was observed in the futures market for rubber in the past week, with prices across the board falling throughout the exchanges. The price behaviour in the past week is shown to be in contrast to the slight bump in prices after the Chinese holidays in previous years. Prices retraced most of the gains made in OSE over the last week, and fell lower than the fortnight before in SHFE/INE and in SGX. Reports of heavy rain and floods in rubber-producing regions did not

17 Oct 2022

Market slumps post Golden week, anticipation around China congress meeting

The market, largely driven by weak macroeconomic indicators, failed to keep the optimism post-Golden week holidays contrary to the market expectations. The spot market saw a drop of around 2-3% across the board while the market awaits the outcome of the China congress meeting.

14 Oct 2022

India to extend ADD on China tire for another three years

The Indian Government is set to extend the antidumping duty (ADD) on importing new tires from China for another three years, with the Director General of Trade Remedies (DGTR) under the Department of Commerce recommending the same to the Government in a sunset review last month.

14 Oct 2022

IRCO aims to boost prices below 7-year average, success questionable

International Rubber Consortium Ltd (IRCO) is poised to conduct discussions to steady the outflow of rubber supplies in the international market amid concerns more downward movement in the prices could be on the cards. Following OPEC’s production cut and focusing on a shorter to mid-term strategy, IRCO is planning to restrict exports.

14 Oct 2022

Golden Week - the turning point or just a pause

The return of Chinese buyers into the spot market has brought in a much-needed breather for the spot rubber prices. The market hoped this would finally be the turning point for the rubber market. However, the ground realities might be slightly different, indicating a slower market, at least in the short-midterm period.

11 Oct 2022

Vietnam rubber exports hit US$2bn in first eight months of 2022

Despite a slump in global rubber prices, Vietnam seems to have insulated itself from major losses by exporting a mixture of natural and synthetic rubber even as the country upped NR production volumes.

10 Oct 2022

Prices likely to rebound when Chinese Golden Week ends

Physical rubber prices across the board remained steady or trended upwards slightly this week. There were limited trades done in the market due to the Chinese Golden Week holidays. But, prices received a boost near the end of the week due to an expected spike in oil prices and an increase in offers and trade in the market.

07 Oct 2022

Rubber prices marginally up in India market

Indian Rubber Board’s bid to arrest the slide in rubber prices seems to be effective with the price of the cash crop registering a marginal uptick from the lowest prices two weeks ago to INR152 (US$1.86) a kg on October 5.

07 Oct 2022

Should rubber market be worried about lack of spare output capacity?

Spare rubber production capacity is possibly running thin, given more shutdowns of Indonesian factories, and market participants expect more to join by the end of 2022. The situation might be a wrinkle in the end users' plan who have been reducing their reliance on long-term contracts once the Chinese demand rebound once China winds down its zero-COVID policy.

07 Oct 2022

Helixtap Rubber Futures Market Analysis: Daily open interest rise accelerates the downward trend in prices

The article aims to provide insight on the rubber market Futures through an analysis of the SGX SICOM TSR20 rubber Futures. As the SICOM Futures are used by most rubber market participants for a variety of uses, this analysis will serve as an indication of the rubber market outlook as represented by futures market participants. The analysis attempts to track the forward price curve and to observe their dynamics in relation to similar contract positions over time. For example by tracking the Futu

06 Oct 2022

Weak global prices sap Cambodia earnings

Cambodian rubber latex, which relies on exports, smarts under lower global rubber prices even as the country’s efforts to crystallize its downstream facilities toil towards fruition.

05 Oct 2022

Pneumatic & retreated tires buck Sri Lankan negative trend

The Sri Lankan rubber and rubber product export market showcased a mixed trend, with surgical gloves facing a decline, unlike pneumatic & retreated rubber tires which saw some growth. Even though exports of rubber and rubber products recovered in August, the demand for rubber remained weak from local shippers and foreign buyers.

04 Oct 2022

JPX | Japan Rubber Futures Weekly Report: 26 – 30 September 2022

In the previous week, Futures saw an overall decrease in open interest across the exchanges. Trading activity is expected to shrink heading into the Chinese Golden Week holidays, leading to the reduction in open positions. China reported a slight growth in manufacturing activity, with PMI at 50.1. This marks the first expansion in three months since June this year. Major central banks are likely to follow suit with key interest rate increments since the Fed announcement. European Central Bank officials such as Lithuania’s Gediminas Simkus, Slovakia’s Peter Kazimir and Finland’s Olli Rehn have largely indicated a move of 75bps leading into the upcoming decision on October 27. Such a move will likely contribute to a continued fall of the already abysmal European demand with German inflation exceeding 10%, driven by high energy prices. A double-digit inflation level in Germany was last seen in the 1950s, and is the first time since the Euro was introduced to world financial markets in 1999. All stock indexes listed in the JPX report saw a net fall in the past week due to recessionary concerns.

03 Oct 2022

Helixtap JPX report Summary: Chinese traders on a buying frenzy, processors overbooked till next year

In the previous week, Futures saw an overall decrease in open interest across the exchanges. Trading activity is expected to shrink heading into the Chinese Golden Week holidays, leading to the reduction in open positions. China reported a slight growth in manufacturing activity, with PMI at 50.1. This marks the first expansion in three months since June this year. Major central banks are likely to follow suit with key interest rate increments since the Fed announcement. European Central Bank of

03 Oct 2022

Heavy rain forecasts in Thailand drive raw material prices north

Reports of heavy rains in Thailand have driven the raw material prices up during the week as the market experts see some more support amid the expectation of weather to worsen. The situation amped up the spot rubber prices as the Chinese buyers continued to remain bullish, expecting a supply shortage.

30 Sep 2022

India producers lock horns with downstream over cup lump imports

India witnesses a bid by block rubber and tire manufacturers to import cup lump and scrap rubber at cheaper rates than domestically produced latex and is seeing some resistance from the rubber-producing community in the country.

29 Sep 2022

Indian tire exports up 25% YoY in H1, demand for sustainable rubber pose threat

The revenue from Indian tire exports has made an uptick of 25% in the first half of 2022 compared to the same period the previous year, riding on the Atma Nirhabr (self-sufficient) policy of the Indian Government. However, overall bearish cues and demand for sustainable rubber could pose a threat to the industry in the mid-term period.

28 Sep 2022

Bridgestone pitches for a sustainable supply chain

Bridgestone is bent on achieving carbon neutrality in the rubber supply chain by making tires from 100% renewable materials by 2050. And its latest initiatives in this direction come in the Far East and the U.S.

28 Sep 2022

Spot activity moves forward, prices close to floor

The shift in the buying pattern during the week despite underscored expectations for tighter monetary policy and a slowing global economy could indicate that the spot prices are finally nearing the floor. The market, however, remained divided on the rationale behind the shift in the buying pattern, with some attributing it to possible positives in the upcoming China congress while others feel the prices have very little room for correction.

23 Sep 2022

India tire producers to resume domestic rubber purchases

The Indian Rubber Board has initiated steps to rein in the downswing in the domestic rubber prices by holding a meeting this week with the Automotive Tyre Manufacturers Association (ATMA) members, and the latter has agreed to return to revive the market.

22 Sep 2022

Porsche IPO stirs excitement in auto industry, limited impact for tire and rubber

After two years of struggle, the auto industry hopes to see some fervor with Porsche's initial public offering (IPO). Listing IPO when inflation is peaking across the globe and the monetary tightening seen in the Western Hemisphere tipping the economies to recession doesn’t seem the best strategy. However, with weak consumer demand, supply chain debacle, and chip shortage, some improvement in the cash flow could be the possible reason for Volkswagen’s move. However, how much of this would transl

21 Sep 2022

Malaysian spot prices under pressure on higher production & sluggish exports

Malaysian rubber spot prices remained under pressure amid bearish domestic demand, sluggish exports owing to zero Covid-19 policy, and a surge in production. According to Helixtap data, Standard Malaysian Rubber (SMR) 20 prices dropped by around 5.7% in July and around 5.5% from July 2021.

20 Sep 2022

JPX | Japan Rubber Futures Weekly Report: 12– 16 September 2022

Futures prices saw an increase over the past week after weeks of consistent selling since the start of August. Some positive economic data was seen from China with the lockdown in Chengdu being lifted along with better-than-expected Industrial Production and an increase in Retail Sales in August. These factors may have prompted some short covering behaviour especially in SHFE/INE as a net fall in volume and open interest was seen. The CPI from the US for August was higher than market expectations at 8.3%, further increasing the expectation of a 75bps rate hike at the FOMC meeting this week.

19 Sep 2022

Helixtap JPX report Summary: Inventory and physical rubber prices share inverse relationship

Futures prices saw an increase over the past week after weeks of consistent selling since the start of August. Some positive economic data was seen from China with the lockdown in Chengdu being lifted along with better-than-expected Industrial Production and an increase in Retail Sales in August. These factors may have prompted some short covering behaviour especially in SHFE/INE as a net fall in volume and open interest was seen. The CPI from the US for August was higher than market expectation

19 Sep 2022

No intervention from Rubber board yet, Indian prices still downcast

The Indian rubber prices are at the 19-month low at INR 151 (US$ 1.90) per kg with no signs of a Rubber Board or Government intervention to take the prices to a robust level with the international prices keeping lower than the domestic prices.

16 Sep 2022

EU deforestation legislation – trade barrier for Indo and African rubber

Concerns have emerged in the rubber market about the impact of the Council's agreement on new rules to driving down deforestation and forest degradation globally, with natural rubber on the list.

16 Sep 2022

Key market indicators - Bear market in short-mid term

The key factors impacting the physical market in the short-mid term

15 Sep 2022

Investments into Indian rubber production gathering steam

The INR 1100 crore (US$ 143.77 million) ATMA-Rubber Board project to boost rubber production in the north-eastern states of India is making sturdy progress. At the same time, the second largest rubber-producing state, Tripura is emerging with a new rubber policy to bolster the project.

13 Sep 2022

Sellers heave a sigh of relief with prices stable today

Delayed price assessment and commentary

09 Sep 2022

Bangladesh rubber exports soar to new highs

South Asian nation Bangladesh is forging ahead in rubber production scripting over decade-high gains in exports in the FY 2021-22, taking the commodity mainly to India, Malaysia, Turkey and Spain.

09 Sep 2022

Tyre majors steadfast on sustainability, strongly behind Indonesian Rubber

While Indonesia may be smarting from the free fall of rubber prices in the international market due to weak Chinese demand, tyre majors seem to be betting big on the superior Indonesian rubber in the long run. This is despite Vietnam and Ivory Coast lower grades rattling the Indonesian rubber economy recently.

09 Sep 2022

Helixtap Physical Rubber margins and intra regional spreads analysis: Thai producers selling at prices close to negative margins due to competition with Indo rubber

The past two months from mid-July to early September this year saw the Helixtap STR20 price spread over Thai Raw Materials decline towards US$219/mt in late August. Earlier in June, the same spread was at the highest weekly value of US$491/mt since September last year. With that drop, Thai producers have been approaching margins that are close to incurring losses despite a stronger US dollar cushioning some of this impact. As of early September, the average factory costs are 7-8THB/kg for proces

08 Sep 2022

Rubber prices fall further as tire-makers rest on imports

The rubber prices are trending downwards in the Indian domestic market due to lukewarm demand from the downstream tire sector that thrives on ample inventory arising from an import glut. Consequently, the smallholders are piling up stocks, refusing to incur losses while anticipating price rises in the future.

08 Sep 2022

Helixtap Fortnightly Report - H2 August 2022

The spot rubber prices plunged by 5-7% across the basket over the fortnight as the market failed to assess the floor. The European tire sector has been seeing some setbacks and drops in demand amid sanctions, production cutbacks, rising costs, monetary policy tightening, and a potential recession. Unfortunately, the situation has seemed to have aggravated lately. The supply of carbon black and the high energy prices would impact the European tire market. In addition, the uncertainty of the natural gas supply impacted the chemical industry and caused issues with the production of the majority of rubber compound ingredients.

06 Sep 2022

JPX | Japan Rubber Futures Weekly Report: 29 August – 2 September 2022

The preceding week saw an increase in volume amidst a continued downward spiral in prices across the exchanges. Bearish sentiment across the markets remains due to increased expectations of future rate hikes and recessionary fears. China reported PMI for August this year at 49.4, below the neutral level of 50.0, signalling a slight contraction in manufacturing activity. Within China, additional cities have also imposed fresh lockdown measures due to its zero-covid policy. Major cities such as Chengdu, Guangzhou, and Shenzhen have also announced additional restrictions due to a rise in COVID-19 cases. This will subsequently have an impact on Chinese GDP growth, and it is even likelier for the Chinese economy to miss the 5.5% official growth target set earlier in March this year. In Japan, a 13.3% YoY fall in vehicle sales was reported for August this year, further highlighting weak market sentiment.

06 Sep 2022

Helixtap JPX report summary: Higher energy prices likely to cause further decline in European demand for rubber

The preceding week saw an increase in volume amidst a continued downward spiral in prices across the exchanges. Bearish sentiment across the markets remains due to increased expectations of future rate hikes and recessionary fears. China reported PMI for August this year at 49.4, below the neutral level of 50.0, signalling a slight contraction in manufacturing activity. Within China, additional cities have also imposed fresh lockdown measures due to its zero-covid policy. Major cities such as Ch

06 Sep 2022

A new 2022 low for rubber prices, bear China annihilates spot market

As China struggles to shake off the impact of Covid-19 while embroiled in a deepening real-estate downturn and a heat wave, the country’s economic low has shackled the rubber market, taking the spot rubber prices to a new low for 2022. While the producers struggled to find a floor, spot rubber prices dropped below US$1400/mt, with the market once again failing to find support.

05 Sep 2022

Navigating the rubber market: Today & Tomorrow

Summary of the key points discussed at Helixtap Technologies Flash webinar on 30 August 2022.

02 Sep 2022

SBR ADD extension worries for Indian importers

Both tire and non-tire sectors in India are peeved over the new recommendation of the Director General of Trade Remedies (DGTR)-India to the Indian Government to extend the anti-dumping duty on Emulsion Styrene Butadiene Rubber (ESBR) imported from the European Union, South Korea, and Thailand.

01 Sep 2022

Imports push prices further down; farmers agitated

The rise of imports into India amid southbound prices has started to impact the Indian rubber producers as they lower production to curtail losses.

31 Aug 2022

ANRPC optimistic on NR despite geopolitical issues

The Association of Natural Rubber Producing Countries (ANRPC) has sought to paint an optimistic NR outlook despite sliding global prices amid tepid demand from a weakened China and the tense geopolitical scenario.

29 Aug 2022

Indian rubber prices in one year low; latex worst hit

Rubber prices hit the lowest in a year this week, with supply improving in fair weather since August 12, while the international prices kept low.

26 Aug 2022

When will the prices bottom out - market cues indicate a longer haul

The price pressure has proved to be anything but transient as the spot rubber prices slide back to the 2020 level. While all the rubber-producing nations are in the line of fire and struggling to find a bottom to the prices, it seems the Indonesian market is least insulated from the uncertainties.

26 Aug 2022

Helixtap Physical rubber and Futures Differential Analysis: Physical rubber prices may soon trade at a differential discount to SICOM TSR20 Futures

Over the past month, the Helixtap Physical Rubber Price Index showed an overall decrease in physical rubber prices with respect to SICOM TSR20 Futures, reaching a differential lower than US$50/mt for the first time since end-February this year. The Helixtap Rubber Index is a weighted average price of all Helixtap physical rubber price assessments as per their respective regional production share. This index can hence be compared directly to the non-region-specific SICOM TSR20 Futures prices. Fol

25 Aug 2022

Export-centric Cambodia feels the heat of weak rubber prices

The lingering geopolitical uncertainties have cast a shadow over Cambodia’s ambitions to mint money by shipping NR latex.

24 Aug 2022

JPX | Japan Rubber Futures Weekly Report: 15 – 19 August 2022

World rubber futures closed the week lower across all exchanges as new short positions by speculators pushed the prices to the lowest level. This week, there were mountains of bearish news: China reported sluggish economic data, a weaker July Industrial production at 3.8%, and a lower July retail sales +2.75%. In addition to the zero-Covid policy, China is now facing heat waves and drought, which could affect farm production and farmers' lives. China's total vehicle sales fell to 82,235 units in July compared to the previous month of 2,420,058 units.

23 Aug 2022

Helixtap JPX report summary: Weak China demand causing fall in physical and futures prices

In the past week, additional short positions were initiated by speculators, pushing futures prices to the lowest level in a year. Bearish news was also observed, with sluggish China’s July Industrial production at 3.8%. In the exchanges, OSE RSS3 futures fell by 1.2%, SHFE SCR/RSS and INE TSR by 2.4% and 2.5%, respectively, and SICOM TSR20 by 3.7%. This downward move is largely attributed to reinstated lockdowns in the largest demand driver for rubber, China.

23 Aug 2022

Glut in spot market, producers struggle to find floor

Spot rubber market sentiments rapidly turned sour after a tire major's pullback from the long-term contract flooding the market with offers. Meanwhile, producers struggled to find a floor to the prices as they liquidated volume even at a loss.

19 Aug 2022

Vietnam might lose its edge in China

Vietnam rubber could lose the pricing advantage in the Chinese market amid the continued correction in the Thai rubber prices despite strong H1 exports data.

19 Aug 2022

Helixtap Physical Rubber and Futures Price Analysis: Lack of buying interest causing rubber prices to lose key support levels

A fall in prices was observed across physical rubber grades prices and SICOM TSR20 prices over July till mid-August this year. Helixtap STR20 prices in mid-August 2022 reached a new daily low in the past year of US$1,550/mt, below the previous support level of US$1,650/mt. Prices last moved under US$1,600/mt in February 2021, about one and a half years ago. Historically, the lowest daily price recorded is US$837/mt at the start of April 2020, straight after the onset of Covid-19. Over July 2022,

18 Aug 2022

Malaysia on comeback trail in gloves, fight in NR production

The Malaysian glove market has recouped with exports registering a quantum leap of 100% in June 2022 over the previous month, even as rubber production slid this quarter over the last quarter.

17 Aug 2022

Tire major pulls back, spot rubber hits 20-month low

Continued supply chain disruption, soaring raw material prices, and labour shortages have pushed a major tire maker to pull back from their long-term contracts (LTC), shaking the rubber market confidence as the spot prices hit a 20-month low.

16 Aug 2022

Cash flow issues plague market; buyers & sellers struggle

While the global economies are struggling to walk the fine line to clamp inflation and tipping towards recession, the anticipation of further monetary policy tightening has taken a toll on the rubber demand, with prices taking a hit. Meanwhile, southbound prices with diminishing demand have tightened the cash flow for some of the small to mid-sized producers, especially in Indonesia and Africa.

12 Aug 2022

India rubber sector on an upswing in H1 2022

India's natural rubber sector has registered growth on all fronts in the first half of this year compared to H1 2021, with natural rubber production up by 9% and imports up 13% despite a 5% rise in consumption. The market participants attributed the growth to better prices and improved downstream demand. However, India continued to rely on imports in H1 2022.

12 Aug 2022

Sri Lanka paints hale H2

After a sluggish start for the Sri Lankan rubber industry, the country is hoping for a revival in the second half of the year owing to a domestic supply shortage and an improved supply of fertilizers. However, the continued energy crisis in the country could pose a considerable deterrent.

10 Aug 2022

Geo-political tensions back at the driver's seat, prices take a hit again

Geo-political tensions have been a key driver of commodity prices in 2022. With China conducting its 3-day military drills near Taiwan following the from US House Speaker Nancy Pelosi to Taiwan, the spot prices have already a drop by 6-7% across the board this week.

05 Aug 2022

Helixtap Fortnightly Report - H2 July 2022

The weakness across the board for the spot rubber continued amid global monetary policy tightening, recessionary fears, China’s zero Covid tolerance, and slowing of economies. While the hike in Covid cases in China sapped some confidence, reports of some support for economic recovery from the COVID-19 fallout lifted the futures market sentiment. However, a similar uptick was not seen in the physical market, which remained sluggish. The inflationary pressure also weighed on the global economic sentiment, downcasting Asian currencies against the US dollar, adding to the woes. Furthermore, Thailand and Indonesia also saw multi-year high inflation rates this month.

05 Aug 2022

Helixtap Physical Rubber Margins and intra regional spreads Analysis: Feasible for Indonesian producers to import Thai raw mat

Historical Helixtap data shows that Thai Raw materials traded at a premium over Thai Latex prices 60% of the time. However, Thai Raw materials prices were observed to trade at a discount to Thai Latex for 15 consecutive weeks from mid-March 2022. This trend was broken in July, returning to the norm of trading at a premium over the past 4 weeks.

04 Aug 2022

Heavy rains and leaves disease to cap Indian rubber prices descent

Rubber prices were southbound in the second half of July. However, continued heavy rains from July 31 might and leaves disease could cap the correction as impeded tapping would impact production.

04 Aug 2022

Shortage of skilled tappers propped India into automatization

An acute shortage of skilled tappers and underutilized potential tapping areas has propped Indian rubber producers to look for an automized alternative to take Indian rubber production to its full potential. As a result, the emergence of a new tapping machine in the country will be the first of its kind.

02 Aug 2022

Post-pandemic, natural rubber gloves get a push in India

By promoting export-oriented units on the strength of an anticipated rise in rubber production and increasing interest in natural rubber gloves, the Indian glove industry plans to take off from where Covid-19 opened up an enormous opportunity.

01 Aug 2022

CFR China price saw support on restocking

Some restocking in China lent some support to CFR China prices this week, despite the overall bearishness in the market. However, the CFR China prices dropped around 3.7% over July as China continued to struggle with a plethora of issues leading to an economic slowdown.

29 Jul 2022

Low cost opens arbitrage for African rubber into Asia

Rising raw material costs and bearish market sentiments open the arbitrage window for the African rubber into the Asian market. However, continued distressed supply chains and increasing freight costs might be a major deterrent for the African rubber.

29 Jul 2022

Helixtap Physical Rubber and Futures Differential Analysis: Helixtap STR20 price differential over SICOM TSR20 trended downwards by 31% as per our prediction in June

The Helixtap Physical Rubber Price Index continued to trade at a premium over the SICOM TSR20 Futures. The Helixtap Physical Rubber Price index is a weighted average of all Helixtap physical rubber price assessments as per their respective regional production share. Such an index allows for a more appropriate and direct comparison with the non-region-specific SICOM TSR20 Futures prices.

28 Jul 2022

Spot price forecasts under pressure, negative margins hit confidence and activity

With spot prices under pressure from growing concerns of a global recession, while continued negative margin threats hang over the supply-side, the near-term price forecasts for rubber have become bearish as market participants second guess.

26 Jul 2022

Margin report - H1 2022

Compounding damage from the Russian invasion of Ukraine, "Zero Covid" policy in China has amplified the slowdown in the global economy. Moreover, as per the World Bank's latest Global Economic Prospects report, the high risk of inflation and tightening monetary policy could lead to a protracted period of weak growth. All these factors boil down to the conclusion that demand and physical prices are likely to remain southbound, at least in the short-midterm period. In an industry where smallholders primarily run the production, the margin becomes of key importance.

25 Jul 2022

Indian Rubber Board moves to scale up production

Aiming to extend rubber cultivation to sparse regions, the Indian Rubber Board is tying up with research institutes, Krishi Vigyan Kendras (Agriculture Knowledge Centres), and state universities to explore and identify potential regions to promote cultivation.

25 Jul 2022

Global slowdown fears dim outlook, spot prices likely to slide further

Despite a largely muted market amid building recessionary fears and global monetary tightening, spot rubber prices held steady over the week. Meanwhile, a continued drop in the buying expectation and some low prompt offers indicate a bearish upcoming week; sources said to Helixtap on Friday.

22 Jul 2022

Cambodia’s H1 rubber export revenue drops on weak rubber prices

Cambodia's rubber export revenue was hit in the first half of 2022, despite a rise in export volume, owing to southbound international prices.

20 Jul 2022

Vietnam’s boost to domestic tire sector unlikely to support farmer

Vietnam is chugging to make a giant leap in domestic rubber use with the major tire maker DRC launching a new project to increase tire production, while others like Maxam and Kumho have already set the ball rolling. However, the market experts are not sure this would support the local rubber farmers owing to the country's semi-administrative price mechanism.

18 Jul 2022

Low Thai prices lure Chinese buying back, futures weaken

A drop of 4% in Thai spot prices over the week resulted in some rebound in Chinese bulk buying during the Asian trade day. Meanwhile, the SICOM futures hit a six-month low amid global bearish cues and a grim short-term outlook, sources said to Helixtap on Friday.

16 Jul 2022

Helixtap Physical Rubber and Futures Price Analysis: SIR20 prices weaker than usual when compared to previous time periods

The prior month saw a general decline in Helixtap STR20 prices, continuing a downward trend. Prices stayed beneath US$1,700/mt towards the end of June 2022 and were unable to move above this price level. Prices have fallen by US$55/mt over the month of June as a result of this downward trend. This was largely in line with our expectation last month that STR20 prices will likely stay at a lower range in the months ahead.

14 Jul 2022

Supply chain snag prompts US to boost domestic glove production

Even as glove manufacturers across the globe weather post-pandemic oversupply scenario, the United States chugs forward with over a dozen glove-making projects due to domestic requirements, supply chain disruptions, and the long-term in mind.

13 Jul 2022

India rubber prices stay high

Indian rubber prices continue to climb north amid weakened supply, with the southwest monsoon gathering strength and impacting production, while demand remained robust in the past fortnight.

13 Jul 2022

Apprehension kept spot prices range-bound, producers unwilling to balk

Spot rubber market participants are repositioning the possibility of further southbound movement in the spot prices as China’s consideration of pumping stimulus into the market failed to rev up the market. However, producers held on to their offers after a week of downward adjustment in an attempt to stay green; sources said Helixtap on Friday.

08 Jul 2022

Buyers opt for economical Vietnam rubber,  export spikes in May

Vietnam rubber saw a surge in exports in May 2022 and is likely to continue in June, triggered by the widening gap between Vietnam rubber prices compared to the other Asian sources, even though the overall demand cues remained bearish.

06 Jul 2022

FSC-certification concerns stir Viet rubber sector

Vietnam's rubber sector needs to undergo structural changes to embark on the opportunity to cater to the global brands, and developed nations prioritize sourcing rubber from producers with Forest Stewardship Council (FSC) certifications, the industry's gold standard for meeting the legal and environmental norms.

05 Jul 2022

Helixtap Physical Rubber and Futures Monthly Differential Historical Analysis: Helixtap STR20 price differential over SICOM TSR20 tends to increase from February to May each year

According to seasonality analysis from 2016 to 2022, the Helixtap STR20 - SICOM TSR20 monthly differential has the tendency to trend upwards in annual wintering months from February to May each year. Across the years from February to May, this differential was observed to increase around 77% of the time.

05 Jul 2022

Indo producers under margin pressure, Thailand faces supply glut

A surge in the raw material prices and bearish demand continued to break into Indonesian producers' confidence while Thailand market struggled with a supply glut situation; sources said Helixtap on Friday.

01 Jul 2022

Helixtap Fortnightly Report - H2 June 2022

Spot rubber buyers remained uncertain impacting the spot volume movement, especially amid wavering market confidence owing to building inflationary pressure. The western countries are too battling inflation which has kept buying limited. The Fed was looking to increase interest rates again leading to an appreciation in the U.S. dollar keeping the Chinese buyers more reluctant to buy rubber in the U.S. dollar, market sources noted.

01 Jul 2022

Soil maps and fertilizer tackle system for Indian rubber

The Indian Rubber Board has prepared soil fertility maps for the rubber growing areas in the country after holding an eight-year-long study to help producers understand the fertility status of their holdings and plan sustainable soil management for better production. The plan includes a fertilizer management system, which refines the discriminatory fertilizer recommendation based on soil testing.

01 Jul 2022

JPX | Japan Rubber Futures Weekly Report: 20 – 24 June 2022

World Rubber futures prices closed the week mixed in major exchanges. OSE Nov futures dropped by 0.4% with light trading volume, while the nearest month closed higher due to short-covering with stronger physical demand before the last trading date. Both SHFE and INE rubber futures inched marginally higher with heavy trading volume, but most of the buying seemed for liquidating positions.

30 Jun 2022

NR domestic prices high, but under CR import threat

The Indian rubber prices continue to hover high in the second fortnight of June, with the southwest monsoon keeping a weak profile over Kerala creating a positive environment for rubber production and rain guarding amid good demand.

29 Jun 2022

Margin pressure propels Indo factories to shutdown

The building pressure on the margins amid bearish demand and surge in the raw material prices is leading to a shutdown of two processing factories of Pt Prasidha Aneka Niaga in Palembang while few others continued to struggle even with 50% capacity utilization, sources said Helixtap.

29 Jun 2022

Rubber supply from Thailand and Indonesia likely to increase in the coming months

Physical rubber supply from Thailand and Indonesia is likely to increase in the coming months, after taking into consideration their weather forecast from their respective national meteorological agencies. Such an analysis was computed by also referencing a research study published in the IOP conference series on earth and environmental science. It must be noted that our calculations exclude the impact on rubber supply brought upon by unavailability of workers or any other man made events.

24 Jun 2022

Rubber hub Kerala floats rubber products venture

Kerala state, which contributes over 70 percent of the 775,000 tons of rubber produced in a year in India, is making a serious bid to be a rubber products hub by 2030. Their plan is to attract investments to the tune of INR 1000 crore (US$ 128 million) in three phases.

23 Jun 2022

Global NR supply up, profit outlook bleak

The global natural rubber supply has made a marked improvement to 991,000 tons in May 2022 from 941,000 tons in April 2022. Such a figure was 954,000 tons in March this year. A shortfall of 198,000 tons was recorded in May against an estimated demand of 1.19 million tons. While several NR producing countries are entering the off-tapping season, the market is optimistic about supply improving moving forward.

22 Jun 2022

Helixtap Physical Rubber margins and intra regional spreads analysis: STR20 prices tend to fall less than SIR20 prices during wintering months

This article will offer readers analysis on Technically Specified Rubber (TSR) and raw material spreads and price spreads between various regional rubber prices. The price spread between TSR and their respective raw material will be a good proxy for manufacturer margins.

21 Jun 2022

Helixtap Fortnightly Report - H1 June 2022

Weak and uncertain global economic outlook continued to weigh down on spot rubber prices in the market. While the US economy is expected to slow, US Treasury Secretary Janet Yellen continues to insist that a full-blown recession is not inevitable. Volatility in oil prices and bearish sentiments indicated a slowdown in overall demand. As a result, the physical market activities remained largely muted, setting a "bearish undertone". Even though a dip in oil prices would translate to some tempering of the inflationary pressure, it also fuels the concerns around an economic slowdown.

20 Jun 2022

JPX | Japan Rubber Futures Weekly Report: 01 – 05 May 2022

World rubber futures prices closed the week mixed in short trading days. OSE RSS3 had two trading days for the Golden Week holidays but returned to close on Friday +0.8% higher. SHFE and INE rubber futures closed almost unchanged, while SICOM rubber futures were -2.6% due to fresh speculative selling pressure.

17 Jun 2022

Rubber prices rising but producers hinge on climate

Rubber prices are steadily increasing in the Indian domestic market amid some shortages despite a fortnight of weak monsoon.

17 Jun 2022

Booming Indian SR imports propel non-tire exports

A surge in the Indian non-tire exports boosted the demand for imported synthetic rubber as the country clocked an annual rise of 36.6% to 577,410 tons in imports in fiscal 2021-2022. The year-on-year rise was significantly higher in value at US$1.258 million, up 73.85% during fiscal 2021, riding on increased production in the downstream sectors that emerged robust from the pandemic setback.

15 Jun 2022

Power short Sri Lanka fails to tap into rubber demand rebound

Plagued by power shortage and leaf disease, Sri Lanka fails to tap into the rebound in global demand posting a marginal rise of 1.3% in exports from January to April 2022 compared to exports in the same period last year.

14 Jun 2022

Helixtap Physical Rubber and Futures Differential Analysis: physical rubber market trading at historically high differential premium over rubber futures

This article aims to provide analysis on the price differential between physical rubber and rubber futures prices across different periods of time. Such a differential is widely used by many market participants in long term contracts as they attempt to bridge the gap between physical and futures rubber prices.

14 Jun 2022

Helixtap Fortnightly Report - H2 May 2022

The overall sentiment continued to be bearish amid weakness in oil prices, inflationary pressure, and supply bottlenecks. These factors capped the rise in the Indo and Thai spot prices which saw a boost from the renewed optimism around China relaxing its covid restrictions. The market participants are continuously reassessing the possibility of continued tightening by the Fed and other central banks. There is an anticipation of a slowdown in demand which is likely to impact the spot price. Meanwhile, a slight uptick in the futures failed to prop the market confidence.

10 Jun 2022

Indo & Vietnam spot prices find raw material support

Indonesian and Vietnamese spot rubber prices saw some support from the raw material prices compared to the Thai and African rubber prices, even though Standard Indonesia Rubber (SIR) 20 saw a marginal drop of 1%, according to Helixtap data. Meanwhile, the Thai rubber market is witnessing a supply glut situation, sources said on Friday.

10 Jun 2022

Rubber Board to launch e-trading platform

The Indian Rubber Board is set to launch an e-trading platform 'mRube' in June 2022 to help Indian rubber producers and traders augment their reach and returns. The board intends the platform to boost the marketing efficacy of supply chain participants in natural rubber, helping them clock more business by reaching out to new sellers and buyers even in far-off places.

10 Jun 2022

ChemChina to set up US$97m aviation tires production facility

In a bid to ease China's heavy reliance on the imports of civil aviation tires, state-owned ChemChina's aircraft tire subsidiary arm, Shuguang Rubber Industry Research & Design Institute, is tying up with an engineering firm Haohua Chemical Science & Technology, to produce 100,000 high-performance aircraft tires.

08 Jun 2022

Helixtap Physical Rubber and Futures Price Analysis: SICOM TSR20 traded at lowest monthly average in the past 12 months

This article attempts to provide insights on price and trading dynamics of physical rubber and futures by analysing daily rubber prices at different time ranges. The respective time ranges are for the past year, the past month and the past week. The rubber grades covered are Helixtap SIR20, Helixtap STR20, Helixtap AFR10 and SICOM TSR 20 Futures.

07 Jun 2022

Vietnamese rubber banking on Chinese return

Vietnamese rubber producers are expecting some support for Standard Vietnamese Rubber (SVR) 20 prices with China slowly opening up from June 1, 2022, and the recent Chinese government's announcement of stimulus measures to boost the economy.

06 Jun 2022

Indian rubber imports make record surge

The Indian rubber imports have clocked a record rise of 33.3% to 546,369 tons in fiscal 2022 (April 2021 - March 2022), although the Indian natural rubber production hit a decade high in fiscal 2022.

02 Jun 2022

India may extend ADD on Chinese tires

India may extend ADD on Chinese tiresThe Indian Government is likely to continue with the anti-dumping duty (ADD) on imports of new/unused pneumatic radial tires from China. The tires that attract ADD are with or without tubes and/or flaps of rubber (including tubeless tires) having a nominal rim diameter code above 16 inches used in buses and lorries/trucks.

30 May 2022

Widespread Indo-Thai spread props Thai spot market

Thai physical prices post gains on Asian trade day amid widespread between Indo and Thai rubber after a week of muted activities buying; sources said Helixtap on Friday. However, the overall sentiment continued to remain bearish amid weak global cues while market participants await China’s lockdown relaxation from June 01, 2022.

27 May 2022

Rains push Indian rubber prices up

Indian rubber prices are surging forward with incessant unseasonal rains caused by depressions off the west coast of India and in the Bay of Bengal, disrupting tapping in Kerala and the North-Eastern states.

25 May 2022

Indian passenger vehicle sales drop

The Indian domestic passenger vehicle sales have slumped in April 2021, due to supply-side challenges including semiconductor shortage. A slowdown in demand amid inflationary trends due to oil and commodity price hikes also had an impact on vehicle sales.

23 May 2022

Goodyear posts highest Q1 revenue in a decade

The Goodyear Tire and Rubber Company’s net sales have grown by 40pc in the first quarter of this year compared to the first quarter of 2021 driven by the Cooper Tire merger, improvements in price/mix, higher volume, and increased sales from other tire-related businesses.

19 May 2022

Malaysian border reopening providing support to rubber industry

Standard Malaysian Rubber (SMR) 20 prices trended downwards by approximately 7.6pc for the first two weeks in May 2022, as per Helixtap data. Market intelligence data collected by Helixtap suggests that the SMR 20 price in the middle of the month was around USD$1,675/t, the lowest since the start of this year. Such a trend was largely due to a drop in demand from China after lockdowns were announced in Shanghai due to their zero Covid policy.

18 May 2022

More natural rubber production to come from Africa

In Africa’s quest for a greater share in global natural rubber production, Ghana has launched an 826-acre rubber cultivation project, its biggest initiative so far.

17 May 2022

Helixtap Fortnightly Report - H1 May 2022

Spot rubber prices were largely southbound over the fortnight as the buyers and sellers remained skittish about the bearish outlook led by China’s zero-tolerance of Covid. The situation impacted the market confidence affecting the traders, warehouses, logistics, and most importers who adopt a “wait and see” approach. Furthermore, factory closures also impact tire factories and automobile factories, filtering down to demand for natural rubber.

17 May 2022

Indian natural rubber prices post good recovery with production costs increasing

The rubber and rubber latex prices have made a good recovery from the fall last month-end, in view of a shortage of both commodities amid better demand.

10 May 2022

India rubber production hits a decade high

Provisional Indian natural rubber production reached a decade high at 775,000 tons in fiscal 2022 (April 2021 to March 2022), while the consumption rose to a record of 1.23 million tons, necessitating more imports.

10 May 2022

Tire retreading gaining traction

Major tire makers are pushing for tire retreading with improvisations like customized retreading rather than rolling out more new tires in an attempt to lower cost and dependency on natural rubber.

06 May 2022

Indian tire exports script phenomenal leap

Indian tire exports have made an impressive surge of 55% in the ten months leading to January 2022 compared to the same period last year due to a slowdown in the domestic tire replacement market and favorable global market conditions pre-Ukraine war.

06 May 2022

Helixtap Fortnightly Report - H2 April 2022

Bearish sentiment for rubber prices continued for the rest of the April as concerns around the dissipating demand weigh on the spot market across the board. The economic fallout in China owing to the country's Covid-Zero strategy coupled with lower-than-expected stimulus weighed on the market sentiments. Even though China’s economy expanded 4.8% in Q1 of 2022, much of that growth was recorded in January and February.

06 May 2022

Cambodia rubber exports on an uptick

Cambodia's export of rubber and rubber products has zoomed past US$117 million in Q1 2022, up 6.9% year on year, owing to a surge in international rubber latex demand. Despite sluggish domestic demand and spiraling production, rubber latex exports clocked a growth of 10.9% to US$103 million in Q1 2022.

29 Apr 2022

Bearish demand dominates Malaysian rubber outlook

Already plagued by months of extreme volatility, the Malaysian rubber market is likely to witness further weakness amid the daily turmoil brought on by rising Covid cases in China and the conflict in Ukraine as Standard Malaysian Rubber (SMR) 20 prices saw a drop of around 2.7% over April, as per Helixtap data.

28 Apr 2022

ANRPC floats SPM yet again, experts not optimistic

The Association of Natural Rubber Producing Countries (ANRPC) is yet again bidding to establish a Sustainable Price Mechanism (SPM) for natural rubber among member countries to insulate producers from price falls. However, some market experts are doubtful if all the market players would be willing to accept a set pricing mechanism for spot trading.

26 Apr 2022

India eyes doubling rubber production by 2030

India has hit on two projects to double its rubber production area from the current 800,000 hectares by 2030 in a bid to cut its rubber import bill of INR 5000 crore (US$ 653 million) and be self-reliant.

22 Apr 2022

China lockdown cuts deeper into rubber prices than Russia-Ukraine conflict

The rubber market is witnessing a larger fallout in the spot prices and demand, with China on lockdown for almost a month compared to the demand challenges posed by Russia’s invasion of Ukraine, leading to a cut back in some auto production in Europe.

21 Apr 2022

Indian natural rubber prices slide

Indian natural rubber prices are on a downward spiral with a bevy of factors working against the producers. Meanwhile, a positive production outlook with an uptick in tire production could fuel some optimism for the Indian rubber prices in the coming weeks.

19 Apr 2022

Helixtap Fortnightly Report - H1 April 2022

Bear global sentiments continued to weigh on the spot rubber market across the board. With increasing cases of Covid in China and tightening of restrictions, the buying sentiment took a hit.

18 Apr 2022

China lockdown-induced chip shortage hits auto industry hard

The latest Covid surge and stringent lockdowns in China had aggravated the semiconductor shortage, hitting the global automotive sector hard when the demand remained robust. China, the leading producer of semiconductor chips globally, produced 359.4 billion Integrated Circuits (ICs) in 2021, up 33.3% year on year, but now struggles to keep the ball rolling in the wake of the supply-chain disruptions.

14 Apr 2022

ELT promises to replace sand in constructions

The US$ 4.5 billion end-of-life tire (ELT) management market is in for a giant leap along with the over US$12 trillion global construction industry as the tire industry finds an alternative in shredded rubber particles using ELT to replace sand in concrete to close the sustainability loop.

14 Apr 2022

Rubber supply chain jitters grow with China’s “Zero-Covid” policy

As extended lockdowns in China show no sign of abating soon, the inland-logistics jitters continue to grow, gridlocking the transportation in the country with a ripple effect on the spot rubber demand and prices.

12 Apr 2022

Passenger car sales boom boosts Indian tire demand

The passenger car segment is leading the Indian tire production surge, banking on the post-pandemic rebound in economic activities and augmented auto sales, pandemic setback.

07 Apr 2022

Helixtap Fortnightly Report - 2H Mar 2022

The overall spot rubber market was largely bearish in the second half of March amid the continued tensions between Russia and Ukraine, while the fresh outbreak of Covid cases in China added to the woes.

07 Apr 2022

Climate change unsettles Indian rubber farmers

Climate change, in the form of an extended southwest monsoon, disrupted Indian rubber production. However, as the small farmers made a late comeback, the big producers were seen grappling with poor yield.

05 Apr 2022

African rubber might gain ground in western market with Suez Canal surcharge hike

African rubber is likely to gain traction in the US, and the European market over Asian rubber as Suez Canal Authority (SCA) increased the canal tolls from May 01, 2022, for "Containerships" transiting in the northbound direction. The move came as a blow, especially for the Asian rubber industry, adding to the cost while China's COVID-19 lockdown and tire manufacturers' closure of Eastern Europe factories weighed on demand and supply chain.

04 Apr 2022

Yokohama beefs up commercial tire segment with acquisition

To widen its presence in the commercial tire segment, Japanese Yokohama Rubber Co. Ltd. announced the acquisition of Sweden-based Trelleborg Wheel Systems (TWS) for about US$ 2.31 billion, on March 25, 2022.

04 Apr 2022

FLASH - Suez Canal surcharge hike a blow for Asian rubber

A hike in the Suez Canal surcharge from May 01, 2022, announced by the Suez Canal Authority, came as a blow to the rubber industry. The announcement added another layer of complexity as the cost of moving goods including rubber which relies on container ships would see a jump further weighing on the demand which is under duress due to China’s COVID-19 lockdown and tire manufacturers' closure of Eastern Europe factories and a disrupted supply chain.

01 Apr 2022

Renewed risks on global supply chain as China locks down

An extensive lockdown in Shanghai reignited the concerns in the rubber industry for a renewed disruption to global supply chains, which is already under duress by the pandemic and the Russia-Ukraine conflict.

31 Mar 2022

Supply chain woes plague US tire makers

ASEAN reliant US rubber buyers are witnessing a setback as an aftermath of the ongoing Russia and Ukraine conflict. The supply chain disruptions, compounded by shipping container shortages, have thrown the end-users of natural rubber, especially the tire manufacturers, into a tailspin.

29 Mar 2022

Supply chain snags seen stretching through 2022 – Is rubber in trouble?

A multitude of shocks caused by disruptive events ranging from the Covid-19 pandemic to geopolitics, with the ongoing war in Ukraine, has put the global supply chain in a fragile spot. Moreover, given ASEAN-dominated rubber production, the supply chain snags have caused backups in the outflows weighing demand and prices.

28 Mar 2022

New Indian rubber Bill triggers apprehension, might weigh on producers

The Indian government's move to introduce new rubber legislation to update the functioning of the domestic rubber industry and the rubber board triggered apprehensions among market participants and experts as it might undermine the position of the farmers and the Rubber Board.

25 Mar 2022

Malaysian rubber production & exports rebound in Jan

The Malaysian rubber market rebounded in January 2022, supported by an uptick in global manufacturing activities, some global rubber supply shortage, surging crude prices, and a weak ringgit against the US dollar.

24 Mar 2022

The impact of the Russian invasion of Ukraine on rubber prices

The impact of the Russian invasion of Ukraine on rubber prices

22 Mar 2022

Indian NR prices get the oil push

The rally in crude oil prices rippled across the Indian natural rubber market as prices rose around 3% in March despite the elevated inventory levels owing to higher imports in November and December 2022.

21 Mar 2022

Malaysian rubber glove demand set to see a boost

The rubber glove market witnessed an uptick in demand amid the recent Covid-19 outbreak in China, close on the heels of the Russia-Ukraine conflict and endemic globally, which drove down the demand.

18 Mar 2022

Synthetic rubber market in wait and watch mode

Uncertainty looms large over the synthetic rubber market amid highly volatile global crude oil prices in the wake of the Ukrainian war. As a result, stakeholders in the synthetic rubber and downstream tire markets kept their fingers crossed on the supply-demand equation and the prices of their products amid rising inflationary pressures across economies triggered by oil price hikes.

16 Mar 2022

Rough waters for rubber producers amid tire plant shutdowns and sanctions

The magnitude of the impact of the recent production cutback announcements by some tire majors on spot rubber demand and prices rattled the producers as they struggled to balance the cash flow and production amid tightening sanctions resulting from the Russia-Ukraine conflict.

15 Mar 2022

Helixtap Fortnightly Report - 1H Mar 2022

Spot rubber market awaits clarity on Russia-Ukraine war, Thai rubber producers’ margin under pressure, Thailand’s rubber production for 2021 likely to be around 4.9 million tons, up 1.82%

14 Mar 2022

Indian tire firms face a hostile turf

Major players in the Indian tire industry are in for tough times with a host of factors, including a hefty fine from the Competition Commission of India (CCI) for alleged cartelization and higher input cost along with weak demand, throwing a spanner in their works.

08 Mar 2022

UPDATE: Asian rubber sees limited impact of Singapore’s sanction on Russia

Recent unprecedented Singapore sanction on Russia which does not include rubber or rubber-related items is likely to have a limited impact on the Asian rubber industry. However, the recent extension of sanctions on Belarus has cautioned the sellers as they sought more clarity on the situation and the way forward, sources said Helixtap.

04 Mar 2022

Thai rubber producers caught in the mix of new world order

Pandemic, climate changes, floods, and geopolitics have taken over the baton from market fundamentals to be the key price drivers since 2020, and 2022 seems to be following the trend. Disrupted supply chains, sanctions on Russia, and unpredictable weather have put Thai rubber producers and buyers in a spot lately.

03 Mar 2022

Weather and pandemic cap Indian rubber production growth for 2021

India is set to witness a marginal rise in rubber production in the financial year of 2021 (April 2021- March 2022) over 2020 owing to unpredictable weather and Omicron-driven demand slowdown.

01 Mar 2022

India buyers might opt for alternative sources

25 Feb 2022 India Domestic Market

25 Feb 2022

What Happens to Rubber Prices when Russia fully invades Ukraine?

Geopolitical developments and position jostling have resulted in a tense military situation between Russia, Ukraine, and the Western World.

24 Feb 2022

India Market Local Auction Update

RSS5 India Origin

23 Feb 2022

Week's Roundup of Price Range [Indonesia]

100% DRC Rubber against finished SIR20 product

22 Feb 2022

Podcast - Are we really at the brink of a rubber supercycle? [16 Mins]

Chairman and Co-Founder of Helixtap Technologies, Brian Miller, discusses the factors driving physical rubber prices higher - inflation, rising freight costs, labour shortages, and so on. Tune in to find out if we really are at the brink of a rubber supercycle!

21 Feb 2022

Thai producers struggle to keep heads above water

The recent spurt in the raw material prices came as a bane for the Thai rubber producers as they struggle to endure squeezing margins amid flailing demand leaving little room to play around with spot prices.

21 Feb 2022

Helixtap Fortnightly Report - 2H Feb 2022

Early wintering in Thailand drives raw material prices north, African rubber stays strong amid wintering, Indo finds Japanese buying support, Malaysian rubber production drop 8.7% in 2021

16 Feb 2022

Malaysian production drop, hotter weather promises tighter supply

Standard Malaysian Rubber (SMR) 20 prices may be edging back toward the $1900 level by later this month as 2021 domestic rubber production drop and hot weather over the days ahead could tighten supply. Over the past week, SMR 20 prices in the physical market rose by around 4%, with offers reaching briefly at US$1880/mt FOB Klang/, data from Helixtap shows.

14 Feb 2022

Is rubber entering a supercycle?

With inflation surging at a record-breaking pace worldwide, it's no surprise that commodities have turned out as one of the hottest assets of 2022, with rubber as no exception. However, the situation has sparked a debate on the sustainability of the hike in rubber prices and how it will affect the physical market.

10 Feb 2022

Helixtap Fortnightly Report - 1H Feb 2022

Low long term contract booking weighs on Indo prices, African rubber stays strong, Thai and Indo takes a dip, Thailand sees 9.4% rise rubber export in October 2021

05 Feb 2022

High premium prices weigh on LTC volume for Indo rubber

Low long-term contract volume booking for Indonesian rubber due to higher offers led to a supply glut compelling the Indo producers to match buyers’ expectations reversing the premium for spot prices with Thai rubber, sources said Helixtap.

27 Jan 2022

Thai rubber exports rebound in October

Thailand clocked around 9.4% month-on-month rise in natural rubber exports (including compound rubber) in October 2021 to 421,221.37, up from 385,087.09 tons in September 2021, primarily driven by the demand from some major international tire manufacturers, as per the data published by the Thai Rubber Association.

24 Jan 2022

Helixtap Fortnightly Report - 2H Jan 2022

AFR 10 prices rebound on US demand, Leaves disease & early wintering forecast reverses STR and SIR premiums, Malaysian rubber production drops 26%

19 Jan 2022

Drop-in smallholders’ contribution impacts Malaysia’s November rubber production

Malaysian rubber industry took a massive hit on production, posting a yearly drop of 26.8 % in November amid a decline in the contribution of smallholders owing to rain driven supply disruptions, as per the data published by the Department of Statistics Malaysia (DOSM) on January 14, 2022.

17 Jan 2022

Early wintering or shipment delays – what’s driving STR prices

Reports of early wintering and some shipment delays nudged the Thai processed rubber prices, narrowing the spread between Indonesian processed rubber by around 70% in the first week of January 2022.

12 Jan 2022

Consumer vs Supplier: race to rubber sustainability

Over the last decade, the natural rubber industry has come under increasing pressure to be environmentally responsible since the 2015 Paris Agreement, which was again underscored after COP 26. The pressure is mounting on all sides, be it the consumers or the suppliers.

17 Dec 2021

Helixtap Fortnightly Report - 1H Dec 2021

Higher LTC numbers highlight futures & physical prices de-link, Processed rubber prices for all the sources northbound, Higher STR 20 prices open arbitrage for AFR 10 & SVR

01 Dec 2021

Out-of-kilter futures put LTC benchmark in question

The widening spread between the long-term contract price level and the physical market price, underscores the delink between the benchmark used in the negotiations and the actual market level, a factor that will influence the costs for both buyers and sellers in 2022.

26 Nov 2021

Malaysian rubber struggles: Labour shortage, production drop, import bans

Labour shortage struck Malaysian rubber industry takes a hit on production posting a yearly drop of 10% in September after some of the major glove producers faced import bans in the US over poor labour practices.

16 Nov 2021

Helixtap Fortnightly Report - 2H Nov 2021

SIR 20 manages to regain the premium over STR 20, Long term contract negotiations for 2022 begin, Rains in Thailand disrupt supply again

15 Nov 2021

Expectation vs. reality: Is rubber industry moving towards a supply deficit in long term?

For much of the past 5 years, the rubber economy has struggled with overproduction. With the global economy reviving from the pandemic-driven slowdown, the Association of Natural Rubber Producing Countries (ANRPC) is anticipating a rubber supply deficit in the next couple of years. However, slower than expected revival of the automotive sector due to chip shortage could disrupt the market dynamics.

12 Nov 2021

Inflation Risks Triggers Anxiety as Supply Constraints Persist

Higher commodity prices fanned global inflation following the surge in demand post easing of Covid-19 has jeopardized the rubber market as it continued to confront supply bottlenecks and rising energy prices.

12 Nov 2021

Helixtap Fortnightly Report - 1H Nov 2021

STR 20 expensive than SIR 20 first since November 2020, China’s speculative buying send rubber market reeling, ANRPC lowers its global production and demand forecast

03 Nov 2021

Annual Margin Report FY2021 - Indonesia

The slowdown in the global economy on account of the Covid-19 outbreak slowed the demand and impacted the production level. However, the Indonesian government and the major producers are working to improve the factor conditions and margins.

03 Nov 2021

Thai-rubber exports continue to grow in August

Thailand clocked a 15.5% month on month rise in natural rubber exports (including compound rubber), in August 2021 to 394,264.92 tons, up from 354,740.51 tons in July 2021, primarily driven by the demand from India and some major international tire manufacturers, as per the data published by the Thai Rubber Association.

21 Oct 2021

China's speculative buying sends rubber market reeling

Some speculative buying from China muddled up the rubber market dynamics as the market nears the long-term contract negotiation ensuing spike in the rubber spot prices, promoting the sellers to up their offers by around $70/mt despite limited demand.

20 Oct 2021

Malaysian August rubber production drops despite increased demand

Malaysian rubber production dropped 11.7% in August, 42,942 tons from 48,610 tons in July owing to persistent rains and pandemic-driven production disruption, as per the data published by the Department of Statistics, Malaysia. Meanwhile, both domestic consumption and exports saw a surge during the month.

19 Oct 2021

Tires companies opt for alternative freight options

In an attempt to dodge massive delays in shipments, a few tire companies opted for alternative freight options to ship in rubber to keep the supply chain undisrupted. Meanwhile, it’s a double whammy for the producers and processors as they struggled to find containers for ready-made shipments while dealing with problems in cash flow.

08 Oct 2021

Rubber industry grapples with aftershock of China’s crackdown

The crackdown on power consumption coupled with the crisis of Evergrande Group looms large over the demand for natural rubber in China as the industrial manufacturing sector of the country faces a setback.

07 Oct 2021

Indonesian processors seek answers in Thai rubber, but supplies limited

Thai rubber demand and prices are booming as the Indonesian processors join the buyers’ queue, but heavy rains have completely disrupted the supply chain limiting availability.

04 Oct 2021

Malaysia clocks marginal increase in rubber exports in July

Malaysian rubber exports posted a marginal month-on-month rise of 0.1% in July to 48,645 tons in July 2021 against 48,589 tons in June 2021, owing to a slowdown in imports from China, as per the data published by the Department of Statistics, Malaysia.

23 Sep 2021

ANRPC ups demand forecast but challenges from external factors remain

Association of Natural Rubber Producing Countries (ANRPC) revised its demand forecast to 14.1 million tons, up from 13.7 million tons for 2021 anticipating better demand from the Asian market lead by China and India. However, a combination of increasing global Covid cases and a disrupted supply chain could dampen the market confidence.

22 Sep 2021

Wipolimex buys Bangkinang’s factory at US$3.5 million

PT Wipolimex Raya, a mid-sized rubber producer in Indonesia, acquires the New Fountain factory of P&P Bangkinang(SCQ) at US$3.5 million, on September 15, 2021.

20 Sep 2021

Setting ground for African rubber industry to grow

With the growing demand for African rubber in the Asian market, the Ivory Coast government has set up a new law this week to process all rubber produced from the country before exports, as per the industry reports.

17 Sep 2021

Rubber Industry Struggles with Disrupted Supply Chain

The rubber supply chain seems to be grappling under the pressure of regular disruption in production coupled with soaring freight rates as both buyers are sellers struggle to maintain the status quo.

15 Sep 2021

SIR vs STR: pandemic-driven supply disruption fuels rivalry

Indonesian natural rubber sees a surge in buying interest compared to Thai natural rubber for the same Technically Specified Rubber (TSR) 20 grade despite higher price as Thailand struggled with

10 Sep 2021

Coaltrans: Asia prices to head south in H2 2017 on supply overhang, weak demand - Noble

Bali — Asia seaborne thermal coal prices are likely to continue to trek south in the second half of this year, as the market works through a supply overhang and bearish Chinese import demand, according to Noble Group.

09 Sep 2021

Taiwan Taipower's move to buy more Indonesian thermal coal hits suppliers amid tightness

Taiwanese utility Taiwan Power Company, or Taipower, has exercised its option to procure additional thermal coal cargoes this year under existing contracts, leaving Indonesian suppliers gasping amid supply tightness and a significant rise in prices in recent months, sources said this week.

09 Sep 2021