Rubber markets in Asia were subdued amid the Lunar New Year holidays in China and many countries in Southeast Asia. Rubber futures and physical rubber markets in the region stayed unstable and in a downward trend as market players on the rubber futures continued unwinding long positions to stop losses.
To revive investor and market confidence, the Board of Directors (BoD) of IRCo met on 8 February and came up with the conclusion that the current natural rubber (NR) stock level available for sales in the ITRC countries is low contrary to what is being reported in the media.
The BoD of IRCo anticipated that the current low NR stock level would continue declining in the coming months in the ITRC countries as wintering is expected to be severe in the coming months.
To stop a further fall in current NR prices, IRCo’s BoD advised the three trade Associations in the ITRC countries not to sell NR at the current low prices.
Source: IRCo
