Rubber Prices Going Up

Barring unforeseen events the industry consensus is that commodity prices will be higher in 2020 led by higher natural rubber prices which will translate into higher tire prices.

Rubber prices going up.

Dollars per kilogram in 2019. While the price of natural rubber continued its sharp downward trend carbon black crude oil and steel prices increased in 2019. If current inventories exceed demand the oversupply tends to drive prices lower. Company officials were unavailable for comment at this time.

Rubber touched its strongest level for over a year on september. The average price of malaysian rubber reached about 1 64 u s. Natural rubber prices on september 18 2020. The first is the fundamental state of a commodity market.

But if the demand is greater than supplies the inventory deficit tends to push prices higher. The market has been buoyed by yoshihide suga being confirmed as japan s first new prime minister in nearly eight years and by the bank of japan offering a slightly more upbeat view on the economy. Japanese rubber futures traded at near three week high of 217 yen per kg after rising 5 last week the first weekly gain in three. Goodyear tire rubber co.

Tire prices have been going up all year and industry watchers expect prices to continue to climb. The average annual price of natural rubber at the singapore commodity exchange one of the key global commodity. Companies are blaming rising prices on higher rubber costs. However the price was further expected to slowly rise again up to the year 2030.

Cooper tire followed goodyear s announcement by saying that they too will be increasing their wholesale tire prices to dealers effective february 1 or soon after. Increases in rubber prices were cited as the driving factor in the price increase. As of july 2020 the price of rubber amounted to 1 48 u s. Global rubber markets news rubber prices reports rubber market analytics outlook reports daily update.