Thai Oct NR Export Volume Increased
According to the data newly-released by the Thai customs, the Thai Oct NR export volume was 452kt (including NR latex and mixed rubber), up 7.58% M-O-M and up 22.41% Y-O-Y. The NR export volume in October increased notably from September. As the rubber price decrease in end-September stimulated the replenishment sentiment of the downstream users and foreign traders, the Thai NR export volume rose greatly.
As for the export destinations, about 281.9kt of NR was exported to China, up 33.6kt and 13.53% from September. The volume exported to China took up about 62.36% of Thai total NR export volume.
As for the export volume of rubber varieties, the NR latex export volume was 109kt. Hereinto, the export volume of compressed NR latex was 90.8kt, down 0.95% M-O-M and down 1.54% Y-O-Y. The export volume to China was 43.7kt, and the volume to Malaysia was 34.5kt. The volume to the two countries took up 86.1% of the total.
The NR export volume was 110.5kt. Hereinto, the export volume of STR 20 was 101.6kt, up 16.77% M-O-M and down 22.63% Y-O-Y. The export volume to China was 68.1kt, up 27.78% from last month. The accumulative NR export volume in the first ten months of 2017 was 1,153.6kt, down 141.8kt from last year.
The mixed rubber export volume was 134.7kt, up 13% M-O-M and up 134% Y-O-Y. The mixed rubber export volume hit a new record high. Almost all mixed rubber was exported to China, as China’s demand for mixed rubber rose greatly.
SCI holds that the Thai NR export increase is mainly boosted by the mixed rubber export surge. China’s tire producers have increasing interest in the mixed rubber. The accumulative export volume of mixed rubber in the first ten months totals at 930kt. The NR inventories are high in Thailand. SCI predicts that the Nov NR export volume will be 420-450kt.