SINGAPORE (Dow Jones)–Demand for rubber globally will reach 27.2 million metric tons in 2012, the International Rubber Study Group said Tuesday.

IRSG forecast demand for natural rubber to rise 4.6% next year, while that for synthetic rubber will likely rise by 5.5%.

Natural rubber production is likely to rise by 5.1% next year, the Singapore-based organisation said.

IRSG didn’t provide a breakdown of natural and synthetic rubber demand by tonnage.

Source: Dow Jones

Asian physical rubber prices rise on cues from futures, but trade is thin ahead of the weekend, traders say. “Some buyers are saying that our prices are too high,” a major Thai exporter says. In Thailand, there are bids for RSS3 from Singapore-based dealers at $3,350/ton, STR20 at $3,330/ton; buyers from China are bidding for special grade STR20 compound at $3,380/ton.

Source: Dow Jones