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April 22, 2010 02:00 AM

China State Reserve Bureau sets next rubber auction

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    BEIJING (April 22, 2010)—China's State Reserve Bureau said it will sell another 30,000 metric tons of rubber April 23 in Beijing.

    The organization held its first auction April 14.

    The first batch of rubber was relatively old, but this batch contains nearly 4,000 metric tons of Hainan and Yunnan rubber from 2009, though the sellers note there is some mold damage.

    The remainder is Thai rubber, all about 10 years old, but in good condition.

    In the April 14 auction, the average transaction price was $3,665 per ton, the highest closing price of $3,800 per ton, and the lowest closing price was $3,250 per ton.

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