16 May 2023
The global NR production posted a much slower growth at 1.5%, year-to-year, amounting to 896,000 tons in April.
The Association of Natural Rubber Producing Countries (ANRPC) releases the Monthly NR Statistical Report, April 2023.
The global NR production posted a much slower growth at 1.5%, year-to-year, amounting to 896,000 tons in April. While the global demand of NR witnessed a much rapid growth at 2.7%, year-to-year, amounting to 1.241 million tons. Due to the characteristics of NR market, which is relatively sensitive to the market sentiments, the positive market fundamentals were offset by elevated risks around global financial markets, high borrowing costs from interest rate hikes, impact from the prolonged conflicts between Russia and Ukraine, and stubborn inflation amid a projected slowdown recovery of global economy in 2023. The latest trends of the global NR, including price movements in key physical markets, are shown below.
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TOH, Heng Guan