THE INDIA RUBBER WORLD 



[June 



Review of the Crude Rubber Market. 



NEW YORK. 



MAY has been a vtry dull, uninteresting period for the local 

 importers and dealers in crude rubber. Early in the 

 month the market developed an unsettled condition that 

 reflected the dull tone of the London market. There was 

 an absence of trading, due to the holders' reluctance to 

 accept orders at prices that were under the market. Both 

 buyers and sellers appeared to be awaiting some decisive 

 development that would definitely change the monotonous 

 tone of the market. Predictions that the bottom had been 

 reached and a reaction was imminent were daily confuted by 

 prices that continued to seek lower levels. This condition 

 of general apathy on the part of traders and the steady de- 

 cline of prices were the dominant features of the month. The 

 factors that are controlling the market are not so well hidden 

 that the fundamental causes cannot be, at least, surmised. 

 For instance, there is a lot of rubber in sight; the manufac- 

 turers accumulated large stocks prior to April 1; the antici- 

 pated heavy spring business in tires has not materialized, 

 due to the backward spring weather; and machinery for new 

 equipment is being delivered very slowly. Everyone is con- 

 fident that the bottom in prices has been reached and is waiting 

 for the reaction that will follow. 



New York arrivals for the first three weeks of May are 

 6,756 tons compared to 4,000 tons for the same period last 

 month, and are as follows: Plantations from London and 

 Liverpool, 2,720 tons; Singapore and Colombia, 1,117 tons; 

 Batavia, Java, 575 tons; Para and Manaos, 1,875 tons; Afri- 

 cans, 205 tons; Centrals, 84 tons; Manicoba, 180 tons. 



May 1, first latex, spot and nearby, were quoted 77 cents; 

 July-December, 76 cents. Smoked sheet ribbed, spot and 

 nearby, were 76^ cents; July-December, 75^ cents. Upriver 

 fine, spot and nearby, were quoted 69 cents and May-June 

 70 cents. On May 29, First latex, spot and nearby, were quoted 

 67 cents, July-December 67 cents. Smoked sheet ribbed, spot 

 and nearby, were quoted 66 cents, July-December 66 cents. Up- 

 river fine, spot and nearby, were quoted 66 cents, and June-July 

 67 cents. There was a decline during this period of 10 cents in 

 the spot plantation grades, 9 cents in the futures, while Para 

 sorts were 3 cents less than four weeks ago. The fact that 

 futures have recently been higher than spot rubber in New York, 

 while the reverse is the case on the London market, is a strange 

 anomaly. 



LONDON. 



The market was heavy early in the month due to the quan- 

 tities of rubber in sight, and fair business was being done, 

 principally by the exporters. Shipments to the United States 

 had gone forward in much greater volume than last month, 

 with the result that permits were withheld for a time. On 

 May 1, Standard crepe, spot was quoted 3s. lyid. [74.5 cents]. 

 October-December was 3s. l^rf. [75.5 cents]. Smoked sheets, 

 spot, were 3s. Yzd. [73.99 cents]. Hard fine sold a: Zs. lOyid. 

 [69.93 cents]. Values continued to fall during the month 

 and on May 24, Standard crepe, spot, was selling at 2s. 9d. 

 [66.89 cents]. July-December was quoted 2s. 9d. [67.91 cents]. 

 Smoked sheets, spot, were 2s. &d. [64.87 cents] and July-De- 

 cember sold for 2s. 9Vsd. [67.91 cents]. Standard crepe having 

 declined, 3^d. [754 cents] and Smoked sheet, 4yid. [8^4 cents] 

 during the first three weeks of May. The peculiar position of 

 spot rubber selling from K-d. to Id. [1 to 2 cents] below futures 

 continues to be a surprising feature of the London market. 

 SING.^PORE. 



The 5 auctions held between April 27 and May 23, inclusive, 

 realized a total sale of 1,350 tons of all grades. First latex crepe 



averaged 67.5 cents and Smoked sheet averaged 65.3 cents. The 

 market has shown a steady decline of 13.2 cents a pound for 

 First latex and 11.9 cents for Smoked sheet. On May 23 the 

 difference between Singapore and New York spot prices was 7 

 cents for First latex and 7.8 cents for Smoked sheet rubbed, with 

 the demand active. 



New York Quotations. 



Following are the quotatio 

 month ago, and May 29, the 



I'AB.t. June I, 191 



Upriver, fine, new 61 @ 



Upriver, fine, old 



Islands, fine, new 52 @ 



Islands, fine, old.. 



Upriver, coarse, new... 46 (ffi 



Islands, coarse, iiew 28>^@ 



Islands, coarse, old 



Cameta 32 @ 



Caucho, ball, upper 47^(3) 



Caucho, ball, lower 44^@ 



ns at New York one year ago, one 

 current date : 

 J. May 1. 1916. 



70 



8 70; 



May 29, 1916. 

 66 @ 



6Ayi@ 



54H@55 



34y,@ 



38 ^^@ 

 56 @ 



Amber crepe, light 



Spot 78^079 



May-June 78^^@79 

 .76;^@77 



M^yju 



mked sheet. 



■ibbed S Spot.. 61 



) Afloat 61 



30 (j 



Spot 66K'@67>4 



July-Dec. 67 @ 



Spot 64 @6Syi 



July-Dec. 64 @ 



Spot 62 @63^ 



July- Dec. 62 @63 



Benguela, No. 1 . 



Benguela, No. 2. 



Accra, flal;e .... 



East Indian. 



Pontianak 



Gutta Siak 



Gutta red Niger 



Borneo III 



Gutta Percha . . . 



@ 

 @44 



62 @ 



63 @ 

 61 @62 



@ 

 @2.50 



MARKET CABLE SERVICE FROM SINGAPORE. 



The following reports of the weekly auctions held at Singapore have 

 been cabled by the Waterhouse Co., Limited: 

 Crepe, Smoked Sheet, Pounds 



Hate. Price per lb. Price per lb. Sold. Market. 



April 27.. ccnis 75.6 72.6 616,000 Weak. 



May 4 68.4 68.8 378,560 Weaker— less demand. 



May 10 67.5 63.3 403,200 Steady— demand moderate. 



May 17 63.7 61.2 616.000 Quiet— Slightly weaker. 



May 23 62.4 60.7 672,000 Active— good demand. 



