Tire-class rubber prices hit new high levels of unfavorable weather hamper supply
Comprehensive media December 10, 2010 News: Thailand, Indonesia, and Malaysia have all recorded record high tire rubber prices. Traders said that after adverse weather disrupted the supply of major rubber-producing countries, tire manufacturers were worried about further price increases. Pay close attention to purchases. Bridgestone Corp, Japan's largest tire manufacturer, bought Thailand's RSS3 grade rubber on December 8th at a price of US$4.52 per kilogram. Indonesia's SIR20 grade rubber is priced at US$2.03 per pound, and Malaysian SMR20 grade rubber is priced at US$4.50 per kilogram. A trader in Hat Yai, a southern Thai city, said that the rain is still falling and producers are cautious. Some producers report high prices because they do not want to sell. They have problems with the purchase of raw materials. Someone reported $4.60 because they knew no one would pay such a price. The tight supply has caused natural rubber prices to hit historical highs for many times and stimulated the rise of rubber futures in Tokyo and Shanghai. Heavy rains or dry weather in Thailand, Indonesia and Malaysia, the main producing countries, have caused tight supply. Traders expect the tire producers to stabilize their demand afterwards, but China, the largest consumer country, may still stay on the sidelines due to high prices. Panoramic Elevator,Sightseeing Elevator,Observed Elevator Hosting Elevator Co., Ltd. , http://www.nbelevators.com