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2 comment(s). Last comment by speakup at Sep 18, 2020 6:12 PM
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supersaiyan3
2596 posts

Posted by supersaiyan3 > Sep 18, 2020 9:53 AM | Report Abuse

*TOPG is of the view that glove ASPs, particularly for NBR gloves,are likely to remain high for up to a year. This is given the shortage of nitrile raw material, leading to difficulties in increasing production of NBR gloves for most glove makers,coupled with elevated global glove demand owing to Covid-19.

*At this juncture, we understand that ASPs for NBR gloves stand at US$70 per 1,000 pieces while latex gloves are at US$45 per 1,000 pieces. Owing to the strong global glove demand, it expects further ASP increases moving forward. For the NBR segment, it expects increases in ASP of 30% mom in Sep 20 and Oct 20, 15% mom in Nov 20 and an estimated 5% mom from Dec 20 onwards.

*For the NR segment, TOPG expects ASP hikes of 20% mom in Sep 20, 5% mom in Oct 20, followed by 10% mom in Nov 20.From Dec 20 onwards, TOPG expects NR ASPs to rise at a minimum of 5% mom until it starts to see a slowdown in demand for NR gloves. Based on this trajectory, it expects ASPs for NBR gloves to reach US$100 per 1,000 pieces in Nov 20. On the other hand, it expects ASPs for spot orders to potentially reach US$140-150 per 1,000 pieces by Nov 20.

*According to TOPG, it expects annual global glove demand to rise by 71% to 485bn pieces p.a.in 2022Ffrom 282bn in 2019. This will mainly be driven by higher demand,especially from countries with lower glove consumption per capita,as well as increased usage in non-medical sectors. With the robust growth rate, TOPG believes that the surge in global glove demand will outstrip new glove production supply from major manufacturers in Malaysia, Thailand and China


speakup
17432 posts

Posted by speakup > Sep 18, 2020 6:12 PM | Report Abuse

seriously no point.
even if TG make RM1 TRILLION PROFIT, market will still sell on this good news. malaysians like this, always sour grapes, always like to bring down their own champions

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