Falling supply meant Asia physical rubber prices were little changed on Tuesday despite a drop in futures contract prices on the Tokyo Commodity Exchange. Physical prices were likely to remain firm this week as rain persisted in parts of top producer Thailand, as well as Malaysia.
While wintering was underway in the southern part of Indonesia's Sumatra Island. Trading was active with China, the world's biggest rubber buyer, bidding for Indonesia SIR20 and Thai STR20 for prompt shipment, but only few exporters could supply them, traders said. Other tyre makers bid for Thai RSS3 at around $2.09 per kg, but exporters were reluctant to sell at this price, saying their raw material cost was high.
Comments
Comments are closed.