PHR – Flood in Thailand pushes rubber prices higher
PHR – Flood in Thailand pushes rubber prices higher
January 25, 2017
■ A protracted flood in Thailand is likely depress that country’s rubber supply by 10% this year, in our view, which equates to about 4-5% of global rubber supply.
■ Rubber prices have risen up 60% over the last five months.
■ We raise our DCF-based target price and upgrade our PHR rating to Hold, given the sharp increase in rubber prices.
