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Thailand's rubber industry struggles with declining prices

Monday, August 25, 2014
Phayao, Thailand - The Bangkok Post reports, "The Thai rubber industry is struggling to cope with declining prices, which have dropped for the third year to 50 baht a kilogram from 100 baht in 2012. The price slump is set to wipe off 36 billion baht from the local rubber industry this year, according to a rubber researcher. Rubber production costs in Thailand now stand at 64.14 baht per kg while the average price of smoked rubber sheets is 55.19 baht, resulting a nine-baht loss per kg for growers, he added. "Given our rubber supply of 4.2 million metric tons, 36 billion baht will disappear from the industry in 2014 or 3 billion baht a month," the source said. The price of raw rubber sheets prices rose by 0.25 baht to 52.82 baht a kg and that of ribbed smoked sheet RSS-3 grade rubber grew 0.23 baht to 55.61 baht at 3pm on Friday, according to the Rubber Research Institute. Rubber growers have been trying to cope with the prolonged slump, mainly by processing the produce and auctioning. A network of rubber planters, which buys up to 200,000 kg of latex a day, borrowed 50 million baht from a state fund to build processing factories. Vithoon Koopanthawee, an executive of a motorcycle dealer in the lower South, said processing rubber for local use and finding new markets could solve the problem. "Cutting production costs also helps, but not price compensation or intervention because the price slump is a world phenomenon," he said. Charn Leela-aporn, a former adviser to the National Economic and Social Advisory Council, said the situation remained worrisome. "More rubber trees have been planted in both Thailand and abroad, especially in Indonesia, where production and raw material costs are lower than in Thailand," he said. "Lower farmland prices, at 6,000 to 15,000 a rai, have also attracted Thai companies to invest in the neighbouring country," said Charn. In Phayao province, the Rubber Replanting Aid Fund Office has been holding auctions for rubber lump to help planters clear supplies. The office, a unit of the Agriculture and Agricultural Cooperatives Ministry, has organized several rounds of no less than 15 tonnes each, the capacity that fits transportation. The latest round in Pong district fetched 25 baht a kg, 2-3 baht above market prices. Sai Income, chairman of an integrated rubber planters in Phayao, said planters had turned to rubber lump and stopped making sheets. Others have turned to growing longan. In the longer term, the outlook will slowly improve. Bloomberg News reported on Monday the global surplus of natural rubber would shrink 46 percent in 2015 as demand expands and farmers reduce tapping because of decreasing prices, quoting the International Rubber Study Group. Production will outpace demand by 202,000 tonnes from 371,000 tonnes in 2014 and 650,000 metric tons last year, the Singapore- based body said. The group said in May the glut this year would exceed the 714,000 metric tons in 2013 after it increased output estimates for Thailand, the biggest shipper. Futures plunged 28 percent this year, declining to the lowest level in almost five years in June. Supply increased after record prices three years ago spurred output, while demand slowed as the pace of economic expansion decelerated in China, the biggest buyer. The glut is now contracting as profits decrease for small farmers who represent 80% of world supply amid forecasts for record global car sales. "Small growers across producing regions have started responding to a consistent decline in prices," said Lekshmi Nair, senior economist at the group. Farmers are showing less enthusiasm for tapping while tire demand is boosting usage, she said. Global stockpiles are still expanding. Inventories will reach 3.79 million metric tons by the end of 2014 and 4.33 million metric tons by 2015, according to The Rubber Economist Ltd. "We don't expect to see an end of ample supply," Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt, said. "Demand growth will find it hard to catch up. We do not see a major scope for prices to recover." - * Email


The Month in Review - Past 30 Days

Tuesday, September 23, 2014
DuPont opens Innovation Center in China
All India Rubber Industries Association announces its new managing committee
New market report on flexible elastomer industry
Brian Harvey appointed quality/technical manager at Goldsmith and Eggleton
Competing condom makers sue over who's the thinnest
Natural rubber prices nosedive on poor demand
Goodyear converts waste from rice harvest to fuel-efficient tire treads

Monday, September 22, 2014
Yokohama acquires marine hose manufacturer from Parker Hannifin
Bayer to sell of MaterialScience business
Nokia Tyres adjusts production output
Dow Polyurethanes introduces new high-performance reactive expoxy toughener
IRSG announces World Rubber Summit 2015 will take place in Singapore
New market report on China's automotive rubber hose industry
MIT researchers develop camouflaging elastomers

Friday, September 19, 2014
Polymax opens U.S. facility near Chicago
Apollo Tyres confirms plan for new 475 million Euro plant in Hungary
Endurica LLC offers new rubber fatigue endurance test
New satellite show to be held during PLAST 2015
DuPont to increase ethylene capacity to meet growing demand for its specialty resins product lines
Chemical Resistance Guide for Elastomers IV - Now Available!
Flexicon breaks ground on U.S. headquarters expansion

Thursday, September 18, 2014
Saint-Gobain and Bieglo to exhibit at Fakuma Show
Smithers Quality Assessments is celebrating 20 years of continuous ISO 9001 certification with four clients
Rubber poised to rise as prices at five-year low cut output
Bayer MaterialScience to increase TPU production in India
RTP introduces new conductive extrusion compounds
BASF, Cargill and Novozymes achieved another milestone in bio-based acrylic acid
Milliken to showcase ultra clear PP-based commercial applications at Emballage 2014

Wednesday, September 17, 2014
Cabot elects new member to its board of directors
Dow Elastomers launches next generation technology for footwear
Lanxess expands pigment plant in Ningbo, China
Michelin farm tires demonstrate performance advantages during footprint and traction tests
TIA announces 2014-2015 board of directors election results
Titan International approves quarterly cash dividend
Solvay inaugurates specialty surfactants plant in Genthin, Germany

Tuesday, September 16, 2014
R.E. Carroll Inc. hires Charleen Henke as new midwestern technical sales representative
Malaysia to send 20 million medical gloves to fight Ebola
New market report on disposable gloves for medical and non-medical applications
Anne Noonan named president of Omnova Solutions' performance chemicals business
UTEX Industries finalizes plan to expand operations in Singapore
Bluestar Silicones launched Silcolease flat release polymer at Labelexpo Americas 2014
Dow Corning expands Syl-Off portfolio with new release coating

Monday, September 15, 2014
Vystar board approves natural rubber latex business spinoff
International Rubber Company sales hit $9 million in the first half of 2014
Continental breaks ground on it new high performance tire technical center in Korbach, Germany
PanAridus CEO announces new patent and first bale shipment of guayule
Anvis expands it German headquarters
RTP Company introduces new conductive extrusion compounds
PolyOne announces Javier A. Echevarria as vice president of global sourcing

Friday, September 12, 2014
Trelleborg sells off its rubber boot operation in Spain
Evonik opens 20,000 ton expansion to its precipitated silica site in Pennsylvania
Environmental group blasts Forest Stewardship Council for certifying tainted Vietnam company
Toyo Tire establishes new polyurethane business in Thailand
Sri Trang set for rubber trading in Myanmar
Japan may begin buying Myanmar rubber next month
BASF opens new butadiene extraction plant in Belgium

Thursday, September 11, 2014
Nokian Tyres launches international marketing cooperation campaign with the IOF and Tough Mudder
Chemical Resistance Guide for Elastomer IV - Now available!
Zyvex and OCSiAl cancel plans for merger
Toyo Tire introduces newest premium all season tire
Cimcorp to automate green tire handling at Chinese Qingdao Sentury Tire
ISRI announces newest board members
New report on the Brazilian tire market

Wednesday, September 10, 2014
Converse produces all rubber Chuck Taylor sneaker
New market reports on global and China rubber chemical industry and internal mixer industry
Michelin, Amyris and Braskem team up for renewable isoprene for production
India tire manufacturers stock surges 9 percent on low rubber prices
Rubber at five year low amid oversupply in Thailand
India's natural rubber imports rise 15 percent in August
Apollo Tyres plans new EUR 442.2 million plant in Hungary

Tuesday, September 09, 2014
KraussMaffei adds two new injection molding machines to its portfolio
Smithers Rapra's Hochschwender to deliver keynote speech at ITEC
China drops its anti-dumping duties from Russia, Japan and South Korea
Bridgestone's Tennessee tire plant earns LEED V3 recertification
Evonik to invest EUR 2 billion in its German operations
Cabot Corporation announces three new fumed silica products
Dow Chemical announces new executive leadership appointments

Monday, September 08, 2014
Akron Polymer Conference takes place October 2-3
BASF prepares for its 150th anniversary in 2015
Cabot Corporation increases prices for specialty carbons globally
Brenntag expands its India business with the acquisition of Pioma Chemicals
Evonik expands it specialty silica capacities in Japan
Cooper Standard to become majority owner of largest Chinese automotive sealing manufacturer
A. Schulman acquires Australian compounder Compco Pty. Ltd.

Friday, September 05, 2014
Large wind turbines benefit from cable sheathing made of Lanxess Levapren
Nexen Tire makes an active push into the European market through a global brand marketing with European football clubs
Nokian Tyres launches international marketing cooperation campaign with IOF
New market report on toluene diisocyanates in Europe
Abhisar Buildwell inks rubber threads supply pact with Rubfila
Book of the day - Resistance and Stability of Polymers
Semperit initiates arbitration proceedings against its Thai joint venture partner Sri Trang Agro

Thursday, September 04, 2014
Cooper Tire board elects Tom Lause as treasurer
Nokian Tyres is introducing five new SUV summer tires
Nexen Tire achieves first-ever grand slam of design awards for a tire maker
Bridgestone to attend the 65th IAA Commercial Vehicles International Motor Show in Hanover
India expects increase in natural rubber imports
Mesnac announces appointment of Dr. K. Mohamed Hassan as executive director
Lehigh Technologies raises $8 million to drive global expansion

Wednesday, September 03, 2014
Continental Tire plant in Mt. Vernon, IL, celebrates 40th anniversary
BASF to increase prices for neopentylglycol (Neol) in North America
Malaysia's rubber glove industry urged to take advantage of growing market
Zeon names Bob Barlow as president and CEO
Nynas reports second quarter 2014 results
ARPM announces the availability of its annual Wage and Salary Report for the rubber industry
Accella Performance Materials acquires Zeus Tyrefill Systems

Tuesday, September 02, 2014
APS Compounding announces two new hires
Saint-Gobain Seals' Rulon J polymer to be used for shock absorbers by US manufacturer
Sumitomo Rubber awarded contract for OEM tire placement on Jeep Compass and Patriot
LyondellBasell to build world scale PO/TBA plant on U.S. gulf coast
MRF opens retreading factory in Oman
New market report on the global material testing equipment
Thwing-Albert introduces new materials testing machine frame
NSF awards $800,000 to ramp up production of eco-friendly halogen-free rubber

Monday, September 01, 2014
Kraiburg TPE to participate in Indoplas 2014 in Jarkarta
Albemarle and PolyOne to present at KeyBanc Capital Markets conference in Boston
Momentive Performance Materials prepares to exit bankruptcy
Trelleborg presents the results of tire size and farming productivity study
Bridgestone establishes new company to sell industrial products in Chile
Clariant to offer certified sustainable palm oil based material

Friday, August 29, 2014
Now available, the 2014 Rubber Red Book and Blue Book
TIA announces 2014 Hall of Fame recipients
New market report on global rubber gloves
Book of the day - Practical Guide to the Assessment of the Useful Life of Rubbers
SO.F.TER introduces TPE extrusion suitable for drinking water contact
Evonik Industries announces global price Increase of up to 10 percent

Thursday, August 28, 2014
Goodyear names Richard Kellam senior vice president, global sales and marketing
Nynas AB announces changes to the executive committee
TIA submits comments to NHTSA regarding proposed rulemaking for tire identification numbers
New market report on the global silicone rubber industry
Mesnac announces expansion plans for its European region
Rubber Division, ACS, reports hotels are nearly sold out for International Elastomer Conference in Nashville
Cooper Tire reports independent valuation of CCT

Wednesday, August 27, 2014
Thailand approves 5.94 billion (baht) for overhaul of rubber industry
Rubber may soon come from dandelions
New market report on butyl rubber technical material
United States International Trade Commision forwards case against Chinese tire dumping
Pyrolyx issued patent for new green carbon black recovery method
Kraiburg TPE's Thermolast K used by Stabilo for injection molded pens and pencils
Wacker named 'Preferred Supplier' by Bosch
Bayer MaterialScience reduces petroleum use with CO2 replacement during elastomer production

Tuesday, August 26, 2014
Auto sales increase Indian tire manufacturers' stock values
ACS Group hires new vice president of marketing and product development
Bridgestone Commercial Solutions introduces the Firestone FS561 steer tire
New market report on the global v-belt industry
Thai military government approves sale of country's rubber stocks
Nexeo hosts Technical Summit in Houston, TX
Yokohama's next generation Geolandar H/T goes on sale September 1
Vietnam Rubber Group improves policies for rubber growers

Monday, August 25, 2014
Thailand's rubber industry struggles with declining prices
Bridgestone Commercial Solutions introduces new Bandag B799 fleet tire
Silicone added to the international care labeling standard
Ross offers new custom agitated vessels with silicone heating blanket
ARPM Benchmarking and Best Practices conference sees 25 percent increase in registration
Orion Engineered Carbons to release second quarter results
New market report on surfactants




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www.goldsmith-eggleton.com
Goldsmith & Eggleton Incorporated, an employee- owned company, is engaged in the manufacture and distribution of rubber raw materials. Since our founding in 1968 our mission is to provide customers with consistent quality polymers that adhere to specification and provide economic value. G&E's Reliable Polymer Alternatives are used by original equipment manufacturers in a variety of diverse applications. G&E's quality system is registered to ISO 9001: 2000. We supply customers throughout the world from our Processing facility in Wadsworth Ohio. G&E provides the experience of seasoned industry professionals and the commitment of employee owners to continuous improvement.

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