No Bounce in Sight for Rubber Prices Plagued by Oversupply
- Thailand, Indonesia, Malaysia to increase exports from April
- Market speculates Chinese tires may be caught in any trade war
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There’s no respite for rubber prices weighed down by too much supply as key producers prepare to boost shipments from this month.
An agreement by Thailand, Indonesia and Malaysia in late December to reduce exports by 350,000 metric tons expired on March 31. That’s spurred concerns that more supply from the countries, that together account for about 70 percent of global production, will hit the market just as demand is weakening and trade tensions between the U.S. and China heat up.