Japan and South Korea’s NBR export volumes increase M-O-M in June
Highlights: Japan and South Korea are the world’s major NBR exporters. As the sixth period of export data in 2024 was released, the export volume of NBR from Japan and South Korea increased M-O-M in June,2024.
Export volume review in June
According to the data released by the Japan Customs, Japan’s NBR export volume in June was 3,705mt, up 15.98% M-O-M and 9.32% Y-O-Y. Japan’s NBR export volume was 21,968mt in H1 of 2024, up 17.56% from the same period last year. According to the data released by the South Korea Customs, South Korea’s NBR export volume in June was 11,059mt, up 21.19% M-O-M and up 28.76% from the same period last year. South Korea’s NBR export volume was 64,751mt in H1 of 2024, down 3.28% from the same period last year. Japan and South Korea’s NBR export volume increased due to the impact of previous shipments and the decrease of some resource prices.
As for trading partners, the top three NBR export partners of Japan in June were China, the U.S. and India separately, among which China ranked first. The NBR export to China in June was 1,456mt, up 19.54% M-O-M and 54.84% Y-O-Y. The export to the U.S. was 818mt, up 71.85% M-O-M but down 24.54% Y-O-Y. The export to India was 314mt, down 42.49% M-O-M but up 25.29% Y-O-Y.
As for trading partners, the top three NBR export partners of South Korea in June were China, India and the U.S. separately, among which China ranked first. The NBR export to China in June was 2,197mt, up 35.28% M-O-M and 38.72% Y-O-Y. The export to India was 1,612mt, up 13.92% M-O-M and 6.11% Y-O-Y. The export to the U.S. was 1,159mt, down 37.76% M-O-M and 0.31% Y-O-Y.
Export volume forecast in July
It is expected that the Korean NBR export volume in July may decrease M-O-M, while the Japanese NBR export volume may fluctuate slightly. The overall fluctuation of the fundamentals may be limited. Butadiene price may be high, and demand in the main consumption market may be weak. In terms of price, the Japanese NBR price may fluctuate limitedly, but the Korean NBR price in July may increase. In summary, it is expected that the Korean NBR export volume in July may decrease M-O-M, while the Japanese NBR export volume may fluctuate slightly.
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