ERJ staff report (BC)
Singapore – Natural rubber prices in Asia this week slid to the lowest levels in four to six months, reports Gustav Holmvik of Platts, after a 12 March order from Chinese authorities to Qingdao warehouses to clear part of their rubber stocks within 10 days. The order arose from safety concerns due to fire risk.
Platts assessed TSR 20 (Technically Specified Rubber) for April and May loading as down 7 cents to $2.73/kg (Singapore), the lowest since 8 November, 2012; and RSS 3 (Ribbed Smoked Sheet) down 9 cents to $2.90/kg for April and $2.91/kg for May, the lowest since September 7, 2012.
Week on week, TSR 20 has fallen 5.2% while RSS 3 is down 3.7-4.3%, based on Platts data.
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