FDRA's Monthly Material Cost Report Highlight: Rubber
Global rubber prices continue to creep higher on rallying oil prices, weather-related supply disruptions, and export interventions by Asian suppliers. Nearby RSS3 rubber futures traded in Singapore touched a fourteen-month high just shy of $1.80/kg in recent days. The earlier-mentioned Agreed Export Tonnage Scheme came into effect in April, withholding nearly one million metric tons in rubber exports from the market for four months...On balance, we continue to expect tapering prices in the long term in spite of the recent—and perhaps shorter-term—higher prices.