BOOM IN RUBBER
AMERICANS FORCED TO BUY. BEffISII SELLERS BENEFIT. Pros* Association —By Telegraph—Copyright, LONDON, July 8. There has been a sensational advance to 3s 9d per lb in the price of spot rubber. This is the highest quotation for nine years. The strong demand is due to the activity of the American manufacturers who had been working on low stocks in the hope that there would be a reaction in quotations. Buyers are now competing for even the lowest grades. Tiio rise in price will result in an increased release of rubber during August under the output restriction scheme. The Daily Express ca'ciilates that- the increased prices that American users are now paying to British producers are almost enough to pay the current instalments on the war debt to America. A year ago rubber was loss than lid a pound, but the Americans refused to buy, hoping to break up the Stevenson restriction scheme, which was introduced when things were at their worst. Ihe turn came as a result of the- demand for motor tyres.—A. and N.Z. Cable.
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Otago Daily Times, Issue 19528, 10 July 1925, Page 9
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179BOOM IN RUBBER Otago Daily Times, Issue 19528, 10 July 1925, Page 9
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