Rubber prices hit new high in Indonesia
Reduced supply and increased demand – notably from Chinese companies – have pushed Indonesian rubber prices to a record high. Bad weather has restricted the amount of rubber tapped in Indonesia and other producing countries such as Thailand. Tyre grade rubber price is around 66.
75 cents/lb, compared with last December, when the price was at a low of 39 cents/lb. A trader said that most deals tended to be for small quantities and short delivery. There has also been increased demand from Bridgestone and Goodyear.