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Wednesday, August 17, 2022

Tocom Rubber Rises; Current Prices “Unreasonably Low”

Tocom RSS3 rubber futures are higher, although the upside is limited ahead of a public holiday inJapan Tuesday.

The International Rubber Consortium said in a statement on its website that current rubber prices are “unreasonably low” given the low stockpiles in Thailand, Indonesia and Malaysia.

The organization is also advising rubber trade associations to urge their members not to sell at prevailing low prices and will propose that the countries enhance a collective supply management plan, it adds.

Benchmark July rubber trades Y1.7 higher at Y223.9/kg, off the intraday high of Y226.5/kg.

Dow Jones

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