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Wednesday, July 6, 2022

Tocom Rubber Higher; Producers Seek To Improve Prices

Tocom RSS3 rubber futures are higher in slow trade amid a public holiday in China.

Prices are getting support from discussions between major producing countries about the depressed market; the International Rubber Consortium says on its website that a ministerial meeting between Thailand and Malaysian Monday emphasized concerted action and measures to improve rubber prices to “a fair level” as the current price is below the cost of production.

Benchmark March rubber trades Y3.4 higher at Y179.8/kg.

– IRCo

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