September 1, 1917.] 



THE INDIA RUBBER WORLD 



749 



Review of the Crude Rubber Market. 



NEW YORK. 



AUGUST is usually a quiet period in the crude rubber 

 market and the month just passed has been no ex- 

 ception to the general rule. The large buyers have 

 shown no interest whatever in the spot market and futures 

 being firmly held at a premium above spot prices were there- 

 fore not attractive. A year ago in August the market reached 

 its lowest level, with First latex spot at S65/2 cents, and futures 

 covering the ensuing year were freely sold at 55 cents and 

 even less. The upward swing that commenced in September 

 last carried both First latex spot and futures to 84 cents on 

 December 7, 1916, when the market declined. The experience 

 gained by the sellers of futures at the low values of a year 

 ago doubtless explains the negative attitude of the producers 

 at the present time. 



Plantations have interested smaller manufacturers who 

 have taken advantage of the comparatively cheap nearby rub- 

 ber and bought freely during the month. Inquiries have been 

 numerous for all positions up to the end of next year, but 

 sellers refused to make concessions and prices have ruled 

 firm with a tendency to advance. Spot prices are about 1 cent 

 to 1^ cents lower than a month ago. First latex being quoted 

 65J/2 cents and Smoked sheet ribbed 64"4 cents on August 28, 

 with futures nominally 67 cents for Latex and 651/2 cents 

 for Ribs. Brazilian Paras have been firm and practically 

 unchanged with the exception of Upriver fine that was forced 

 to 70;/' cents during the month. Stocks of Caucho ball are 

 plentiful and cheap, but the demand has been small. Africans 

 were practically neglected, with the interest centered on 

 .\ccra flake and Rio Nunez ball, the latter selling at the 

 unusual price of 65 cents. Centrals continue to be scarce at 

 firm prices. 



The bogy of overproduction is dispelled by E. L. Killick, 

 a well-known English authority, who sums it up as follows: 

 ".According to Rickinson, the world's production of rubber 

 during the past three years was under: 



Plantation. Brazil. Rest. Totals. 



1914 tons 71,380 37,000 12,000 120,380 



1915 107,867 37,220 13,615 158,702 



1916 152,650 36,500 12,448 201,598 



"For 1917 the same authority gives the following estimate : 



Plantation. Brazil. Rest. Totals. 



1917 tons 192.000 37,000 13,000 242,000 



"It will be seen that plantation rubber increased about 50 

 per cent in 1915 and 1916, while the increase in 1917 may be 

 only 25 per cent. After this year the rate of increase will 

 rapidly decline as the diminishing area of rubber comes into 

 bearing and by 1921 the increase may be almost negligible. 

 In the light of such greatly increased consumption it is sig- 

 nificant that the average price of plantation rubber should 

 have risen from 2s. 6d. in 1915 to 2s. \0l4d. in 1916, while for 

 the expired portion of the current year the average is over 

 3s. The lesson of these figures is that during two years of 

 enormously increased production there has been correspond- 

 ing expansion of the world's consumption, and it is clear 

 that if the demand continues to increase at the same rate 

 there is likely to be, a few years hence, not a surplus but an 

 actual shortage of rubber." 



In view of the foregoing, the following official figures of 

 United States crude rubber imports are interesting: For the 

 fiscal year ended June 30, 1917, the United States imported 

 333,373,711 pounds of crude rubber, compared to 267,775,557 

 pounds in 1916, and 172,068,428 pounds in 1915. 



LONDON. 



The London market has lacked inspiration from American 

 buyers and quiet conditions have prevailed with firm prices 



Copyright 1917. 



that show little change during the month. On August 1, 

 Standard crepe spot was 2SVi,d. and Smoked sheet 29d. The 

 same grades were quoted 31d. and 29;4<i- on August 28. 

 The sentiment is strong against selling futures, spot and 

 nearby being the only positions that are really considered 

 in this market at the present time. London and Liverpool 

 imports for June were 7,390 tons compared with 6,700 tons 

 for May. Reexports for June were 4,750 tons, against 6,093 

 tons for May. 



SINGAPORE. 



During the first part of August the market developed a 

 firm tone, despite the rather dull sentiment that prevailed. 

 A tendency to decline was noticed after the second week 

 and the market eased off, closing with lower prices. At the 

 auctions held July 27, August 3, 11, 18 and 24, the average 

 prices realized were: First latex crepe 53.8 cents, compared 

 to 56.09 cents last month; Smoked sheet ribbed 53.88 cents, 

 compared to 55.14 cents a month ago. The total amount sold 

 was 2,335 tons against 1,628 for last month. 



NEW YORK SPOT aUOTATIONS. 



Sept. 1, 

 Plantation Paras — 1916. 



First-latex crepe 1 c,:i/,a 



♦Hevea first crepe f "K® 



Amber crepe No. 1, gristly blanket 54i4(i 



.'Vug. 1, 

 1917. 



Amber crepe No. 2 



Aniher crepe No. 3. 



Amber crepe No. 4 



Brown crepe, thick clean 



Brown crepe, thin clean 



Brown crepe, thin specky 



Brown crepe, rolled 



.Smoked sheet, ribbed standard 1 



quality !- 



*Hevea ribbed smoked sheets... J 

 Smoked sheet, plain standard 1 



quality I 



*Hevea plain or smooth smoked [ 



sheets J 



Unsmoked sheet, standard quality 1 



*Hevea unsmoked sheets f 



Colombo scrap. No. 1 



Colombo scrap, No. 2 



53'/^ (a 



52 



67 

 65 

 64 

 63 

 62 

 62 

 61 

 59 

 48 



56 @ 



@ 



67 @ 



AuK. 28, 

 1917. 

 66 @ 

 63 @ 

 62 @ 

 61 @ 

 60 @ 

 59 @ 

 58 @ 

 56 @ 

 46 @ 



65 @ 



64 @64!^ 64 



62 

 49 

 45 



Brazilian Paras — 



Upriver fine 7 1 J^ @ 



Upriver medium @ 



Upriver coarse 42^ @ 



Upriver weak fine @ 



Upriver caucho ball 42J4@ 



Islands fine 60 @ 



Islands medium (S> 



Islands coarse 28 @ 



Islands weak fine @ 



Cameta Tr^i @ 



Lower caucho ball 36 (2) 



Peruvian fine @ 



Tapajos fine @ 



Tapajos caucho ball * (3) 



Africans — 



Accra flake 35 @ 



Niger flake • 35 @ 



Benguela, extra seconds, l'i^% . . . 38 @ 



Benguela, No. 2. 32K% 35 ® 



Congo prime, black upper @ 



Congo prime, red upper " @ 



Rio Nunez ball @ 



Rio Nune2_ sheets and strings... @ 



Conakry niggers (<? 



Massai sheets and strings @ 



Centrals — 



Central scrap @ 



Central scrap and strip ' @ 



Central wet sheet @ 



Corinto 39 @ 



Esmeralda sausage 39 @ 



Guayule 32 @33 



Manicobas — 



Ceara negro heads @ 



Ceara scrap @ 



Manicoba special 42J^@ 



Manicoba extra @ 



Manicoba regular @ 



Mangabeira thin sheet ITA® 



Mangabeira thick sheet @ 



(§62^ 

 @49'A 

 @45^ 



@69 



68 

 63 

 4Sy2@ 

 59 @ 

 42J^@ 

 61 @ 

 58 @ 

 30 @ 

 55 @ 

 32H@ 

 39 @40 

 66 @ 

 66 @ 

 39i^@ 



39 @ 

 37^@ 

 56 @ 



53 

 64 

 64 



42 

 41 

 31 

 43 

 43 

 36 



@66 



m 



@43 

 @42 



(3 48 

 @28 



44 



27 



45 



4»K@ 



3754 @ 



39 @ 



35 @36 



63 @ 



48 @ 



46 @ 



68 @ 



62 @ 



48 @ 



59 @ 



40 @ 



61 @ 



@ 

 29'A@ 



@ 



32 @ 



37 @ 



65 @ 



66 @ 

 38J4@ 



30 @ 



30 @ 



39 @ 



38 @ 

 55 @ 

 53 @ 

 65 @ 

 65 @ 

 65 @ 

 65 @ 



41 

 40 

 30 

 42 

 42 

 32 



48 @ 



45 

 42 

 40 



39 

 35 



' Rubber Association of America nomenclature. 



