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The domestic market oversupply, the price of natural rubber is expected to decline further
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According to Singapore January 30th news, since the number one consumer China needs light, the market is expected to rubber prices may have further to fall, which limits the Asian market this week on the rubber buying, but some market participants expected the next few months will be tight supply.
From a Thailand Hat Yai traders said, Chinese tire producers buy with, not predetermined forward cargo, although their rubber stock is very low, but the tire inventory is still high, and the overall economic uncertainty. In February and April to China Thailand STR20 rubber prices of about $1.39-1.42 per kg, relatively flat last week. But Thailand RSS3 grade rubber prices rose to $1.70-1.74 per kg last week, less than $1.70, because of weak prices attract some tire manufacturers procurement.
A Singapore trader said, I think the market is not all partial empty, but buying is not really very strong. Most vendors are reluctant to sales, unless the buyers are willing to offer a higher price. At present, Singapore rubber futures price of $1.36-1.40 per kilogram, some Asian buyers refused to sell this price level, they asked the price is the high level 4-5 cents.
Thailand rubber producing countries of winter approaching, decrease during tapping, so during the month of February -4 rubber yield usually drops, may lead to short-term supply tight, this will bring some support to prices.
This article from the Shenzhen City Qiyu Silicone Rubber Co., Ltd.: http://www.szhcty.com/news_v.asp? Id=328
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