Asian physical rubber

Asian physical rubber prices were broadly higher on Friday as sellers pushed up their prices on growing optimism about demand after strong US GDP data a day earlier, although buyers mostly stuck to the sidelines. The physical market has been supported by consistent demand from China and tight supplies from major producing countries, including Thailand, the No 1 rubber producer.
"They know that Chinese buyers are waiting for prices to fall. The question is how long the Chinese can wait," said a manager at a Japanese trading company, adding once their buying starts, the physical market could move higher. There is also concern that too much rain during the rainy season in Thailand starting from next month may keep farmers from tapping, he said.