Asian Physical Rubber Prices Down; Producers Hold Back
21 April 2014, 16:55 SEAST
Asian physical rubber prices are lower amid the slump in rubber futures. “It’s a scary market out there,” says a Singapore-based dealer.
There aren’t many trades done as several buyers are out bargain-hunting, but to no avail, as producers are unwilling to sell at such levels amid the low-production season, he says.
IRCo Chief Executive Yium Tavarolit says the group is urging producers in member countries to manage production and sales to cope with the current market turmoil, as macroeconomic uncertainties are weighing on prices.