US economic data lifts Asian rubber prices

Buoyed by better economic data from the US, natural rubber prices in Malaysia and Thailand increased for the third straight day. According to Bloomberg, March delivery natural rubber pricing increased 1.4 per cent to US$4,020 per tonne on the Tokyo Commodity Exchange. Rubber pricing also improved from the second quarter’s 15 per cent falloff.

Thailand, the largest producer and exporter, set a minimum natural rubber price of $3.86 per kilogram on October 5, Bloomberg said, after it and Malaysia, Indonesia and Vietnam agree to setting a benchmark price. Thai natural prices reached $4.09 per kilogram on October 5. Bloomberg also reported that Thailand is considering cutting down older rubber trees in a move to reduce capacity, thereby improving pricing.            Tire Review