Asian physical rubber prices slipped on Thursday as buyers waited for prices to fall after futures contracts dipped on the Tokyo Commodity Exchange, which sets global price trends. Physical trade was slow with buyers, including China, the world's biggest user, on the sidelines and producers refusing to lower their offers as bad weather pushed up raw material costs, traders said.
"The market has become quiet again as producers won't cut their prices while buyers don't want to pay those high prices," one trader said. However, physical prices remained supported by tight supplies because Thailand, the biggest producer, and number three Malaysia, have entered the wintering dry season, when rubber trees produce less latex, earlier than expected.
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