Rubber futures hold near 2013 highs around 240 cents/kg
Rubber futures traded around 240 US cents per kilogram, near the highest level since 2013. ANRPC forecasts consumption of 15.36 million tons vs production of 15.28 million tons, with supply risks including Thailand rainfall disruptions.
Rubber futures traded around 240 US cents per kilogram, holding close to their highest level since 2013, as the natural rubber market is expected to remain slightly undersupplied for the rest of the year.
ANRPC data showed that consumption is forecast to reach 15.36 million tons, marginally exceeding projected production of 15.28 million tons.
This comes amid ongoing supply risks, with intermittent rainfall in Thailand, the world’s largest natural-rubber producer, disrupting tapping activity, while the end of Southeast Asia’s peak tapping season in September is expected to further reduce supplies.
The outlook for a strengthening El Niño in Q4 has also raised concerns over rubber supply, as hotter and drier conditions could reduce latex yields across major Southeast Asian producing regions.
Meanwhile, higher vehicle inventories among Chinese dealers pointed to softer demand for tires, capping gains.