Rubber futures surged toward 180 US cents per kg, their highest since mid-June, fueled by concerns over tightening supply as ongoing heavy rains in northern Thailand disrupt raw material availability.
Rains have also affected other Southeast Asian countries, disrupting rubber tapping and slowing production, resulting in lower-than-expected volumes of new rubber reaching domestic ports.
On the demand side, traders noted that a rebound in Europe and the US is already underway, while Chinese demand is gathering momentum.
