Singapore - Natural rubber prices opened the week yet higher, pushing prices to new heights in global markets. The trend is set to continue as the rainy season throughout S E Asia will tend to reduce output in the face of strong demand. The wintering is lasting longer this year, said observers, suggesting that normal yields will not be achived until June.
In Tokyo the benchmark 6-month futures prices closed at 283.2 yen/kilo ($2.57) on Monday, up 7 yen on Friday's close. Futures contracts are currently trading at around 275 Â¥/kg (around $2.50).
Prices in Singapore also rose sharply from Friday's close. RSS3 spot is trading at around 243.5 US cents/kg, up 7 cents from Friday, while the futures contracts closed around 248 US cents/kg, also up by almost 7 cents from Friday. Meanwhile there was no trading at all in RSS1, but the spot price closed almost 386.5 Sing cents/kg, 13 points up from Friday, while the 12-month contract closed at a nominal price of 393.75 Sing cents/kg (US$2.49), up by almost 16 points.
In Bangkok RSS3 stood at B88/kg ($2.31) / kg, up from Baht 65 a year ago.
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Price charts SICOM (Singapore)
Price charts Tocom (Tokyo)
Price charts NMCE (India)
Rubber price shoots up NewIndPress (India)
Rubber trade bounces up to record high on foreign inflows Bangkok Post (Thailand)
Rubber prices head north The Star(Malaysia)