Prices of Thai Rubber Stocks Slow Down after Series of Winning Streak on Rising Demand

The share price of Sri Trang Agro-Industry Public Company Limited (SET: STA), North East Rubber Public Company Limited (SET: NER) and Thai Rubber Latex Group Public Company Limited (SET: TRUBB) dropped on Thursday following a series of rally in the past few days that contrasted with the market trend on the back of rising rubber prices.

Rubber prices had been on a rise this year due to higher global demand. Thai rubber prices are hovering around a seven-year high of over 90 baht per kilo. Meanwhile, SICOM TSR20 for June rose over $180 on May 29, the highest in two years, before dropping nearly 2% on May 30.

The share price of STA and NER were on a three-day winning streak coming into today’s session, while TRBB was on its fourth. In contrast, Thailand’s main bourse was declining three out of four days coming into today.

All three stocks settled lower in the morning session on Thursday with STA plunging 2.11%, NER dropping 1.65% and TRUBB falling 1.99%.