China EV boom, poor Thailand harvest inflate natural rubber prices
TOKYO -- Natural rubber prices have climbed to a level not seen in nearly three years on growing demand from China's electric vehicle industry coupled with poor yields in Thailand, a leading producer of the tire material.
Benchmark natural rubber futures traded for 283.60 yen ($1.93) a kilogram as of Thursday on the Osaka Exchange. The price was up 11% from the end of 2023.