Thursday, 4 July 2013

Asia Rubber-Prices at multi-year lows

Rubber prices were at multi-year lows, with only a few cargoes of Indonesian and Malaysian rubber changing hands, as top consumer China saw local tyre makers shift to the country's bonded warehouse supplies and U.S. and European demand bottomed. Rubber at Qingdao, which makes up the bulk of China's inventories, has been offered at a discount to prices in Southeast Asia this year after stocks rose well above the usual level of 250,000 tonnes, indicating ample supply. (Reuters)

Source: CIMB Daybreak - 04 July 2013

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