Michelin Sees Rubber Rout Ending as Collapse Squeezes Supply
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The slump in global natural rubber prices is probably over because producers are finding it harder to cover their costs and will cut output, according to Michelin & Cie., Europe’s largest tiremaker.
Rates have reached a floor of about $1.50 a kilogram, Luc Minguet, senior vice president and chief procurement officer, said in an interview in Singapore on March 23. Futures averaged $1.583 in the past year and were at $1.433 on Tuesday.