The decline of Indonesian rubber price is not stop
2022-10-23- Detail
Indonesian rubber prices have not stopped falling
(Jakarta, October 25) - traders said on Tuesday that the Indonesian Rubber Market (sir20 price) may decline further in the coming weeks due to the slow demand and the weakness of the Indonesian rupiah. Last night from December to January 4 The transaction prices of sir20 delivered with pre start-up and lower limit experimental load were 21.75 and 22 cents/pound respectively (FOB JUGANG)
"the demand is weak, and the use of sellers in cars is also rising, so they have to reduce the quotation again. Due to the recent sufficient inventory and the weakness of the Indonesian rupiah, the rubber price may fall again. I think the price of sir20 shipped in December may soon hit a low of 21.00 cents/pound," said a trader in JUGANG
the selling price of sir20 shipped from December to January last week was 22-22 Accuracy is also 50 cents/pound lower. When the Indonesian rupiah falls, buyers usually try to lower the glue price, because they know that selling a senior analyst at a lower price is still profitable
under the pressure of domestic demand for us dollars, the quotation of US dollars against Indonesian rupiah at GMT 0418 is 10120/10140
traders said that at present, many buyers are watching, paying attention to the trend of the rupiah, and expecting the rupiah to fall further
a trader in Jakarta said, "most buyers have enough supply at the end of the year. If they are in urgent need, they will buy a small amount of goods. In addition, we have enough inventory in recent months."
Chinese buyers who had great interest in purchasing earlier have been out of the market for some days. At present, American tire manufacturers are still on the market, but their purchase quantity is very small, which has no significance in raising prices
it is expected that the global threat of anthrax may increase the demand for rubber gloves, which may increase the demand for latex
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