NR prices rise on strong demand, tight supplies

SINGAPORE (Aug. 13)—Natural rubber prices are showing bullish strength in the face of strong demand and continuing short supply from Thailand, the world's largest NR producer. Standard Indonesian Rubber 20—the grade most often used by U.S. tire makers—stood at 43 cents per pound Aug. 13 delivered to the U.S., while ribbed smoked sheets traded at 44¼ cents per pound in New York Aug. 12. Meanwhile, Malaysia, Indonesia and Thailand have signed the final documents establishing the International Tripartite Rubber Organization, though funding currently is only a little more than 1 percent of the promised $225 million and NR industry spokesmen complain there are no guidelines yet as to how ITRO will operate.