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Natural rubber prices in Thailand exhibited resilience through August, supported by stable downstream tire production and tight supply conditions stemming from adverse weather and regional production challenges. Despite heavy rainfall disrupting TSR cutting activities, firm raw material prices and a slight uptick in tire manufacturing buoyed market sentiment. As of early September, prices are forecasted to rise moderately, with port inventories declining and seasonal demand strengthening across China and Vietnam.
Key Highlights
Natural rubber demand held strong in major end-use industries, led by tire production and automobile manufacturing. In Thailand, local tire manufacturers saw a marginal gain in semi-steel tire production through August xth, with Shandong Province in China showing an increase in all-steel tire production. Downstream business revival buoyed the natural rubber market. Also, Chinax;s appetite for Natural rubber imports was strong, and Vietnam exported xx more rubber to China year-on-year because of the demand for high-quality rubber.
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