The Association of Natural Rubber Producing Countries (ANRPC) reports that in the first seven months of 2024, global natural rubber (NR) production saw a slight increase of 0.7%, reaching 7.1 million tons. In contrast, global NR demand grew at a faster rate of 1.2%, totaling 9.0 million tons. Despite the tight supply situation that pushed up rubber prices, market sentiment remained subdued due to several factors: the Federal Reserve’s decision to keep interest rates unchanged, concerns about a potential recession in the U.S., and the weakening U.S. dollar, which has exerted downward pressure on both physical and futures market prices.
Read More