Global rubber prices mired at multi-year lows

-A +A

(Oct 14): Both Shanghai and Tokyo futures have plunged more than 30 percent this year, hurt by worries about China's economy and recently by Thailand's decision to sell its 200,000-tonne rubber stockpile.

Major rubber producing nations have thrown their support behind a plan urging suppliers to not sell below $1.50 per kilogram, but scepticism remains on how effective it will be as similar acts of co-ordination have failed before.
Thailand, Indonesia and Malaysia account for more than 70 percent of global natural rubber output, but their International Rubber Consortium has foundered as the industry faces a shaky economic outlook in top consumer China, a fourth year of oversupply and stiff competition.