Production data analysis

According to the monthly data report of the Global Natural Rubber Association (ANRPC), global natural rubber production in July 2023 was 1.271 million tons, an increase of 14.92% from 1.106 million tons in June and a year-on-year increase of 2.09%. In July, world natural rubber (NR) production is expected to increase by 2.5% in 2023 to 14.9378 million tons.

Compare monthly natural rubber production in June and July by country. Production continued to grow by 14.92% in July, while annual production growth in July was 2.1%. Production in most ANRPC member states was in positive growth in July, with the exception of the Philippines, which entered the rainy or monsoon season and its production was affected by more rainfall. According to the seasonal trend of global natural rubber output, August is about to enter the global peak production season of natural rubber, and the output of natural rubber may show a significant growth trend. However, against the background of expected increased output, attention to phenological conditions has gradually increased. In some production areas, rainfall and other weather conditions are also expected to increase in August. Be careful not to affect the normal output of natural rubber.

Consumption data analysis

According to the monthly data report of the Global Natural Rubber Association (ANRPC), global natural rubber consumption in July 2023 was 1.314 million tons, an increase of 0.77% from 1.304 million tons in June and a year-on-year increase of 3.14%. In July, global natural rubber demand is expected to be further revised upward to 15.601 million tons, with a marginal increase of 0.4%.

Compared with June, demand increased by 10,000 tons in July to 1.314 billion tons. Although global demand improved, demand fell in July in China, India, Malaysia, Vietnam and the Philippines, while demand in other countries showed positive growth.

China's National Bureau of Statistics (NBS) released an official manufacturing purchasing managers 'index (PMI) of 49.3 for July, a sign of recovery from 49 the previous month, while factory activity remained below inflated levels. This may be in line with China's rubber demand of 563,000 tons in July. Still, the Chinese auto market has confirmed that new car sales increased 2% this month to 1.8 million units, according to the China Passenger Car Association (CPCA) report. The new energy vehicle sector accounts for nearly 36% of total sales, indicating the growing importance of this segment in the automotive market.

India's demand in July is expected to fall 4.8% from the previous month to 119,000 tons. This is also consistent with the manufacturing PMI of 57.7 in July, which fell 0.1 percentage point for two consecutive months. However, July sales were the best month so far, rising 3.1% to 3.52 million units, driven by surging demand for SUVs and MPVs.

Note: Global natural rubber consumption data statistics are based on the latest data and are for reference only. nbsp;