Prices Unlikely To Hit Historic High Above US$5,000/mt Until Oversupply Clears

The global production-consumption cycle has a strong cyclical pattern, due to the cyclical nature of NR production being affected by wintering. The NR market runs a surplus on most months of the year, with March till June the months in which a monthly NR deficit is observed. This aligns with the annual wintering season, where supply falls as trees shed leaves and stop producing latex. In a balanced market where there is no oversupply, prices would rise from a shortage from March till June. Howev