NR prices jump to $2.80 after weekend

Tokyo - Natural rubber prices jumped to new highs again in Tokyo on Monday. Prices rose in other markets, following the lead set in Japan.

In Tokyo the benchmark 6-month futures prices closed at yet another high of 321.1 yen/kilo ($2.80) on Monday, after recording an intra-day high of ¥321.5. This beat the figure of ¥318 set a week ago. A fall in the value of the yen against the dollar means that the new high was 5 US cents below last week's dollar-value high. Futures contracts are currently trading just above 320 ¥/kg (around $2.75). Contracts for delivery in June 2006 also recorded strong increases, closing at ¥326/kg on Monday, up by more than 9 points on Friday's close.

In Singapore prices also moved upwards, following the trend in Tokyo. Short-dated RSS3 closed at 280 US cents/kg on Monday, up from last week's close of 276.75, while the 12-month contract stood at 277 cents, up over 5 cents on Friday. Meanwhile short-dated RSS1 closed up 7 points at 449 Sing cents/kg, (US$2.82). The 12-month contract stood at 444.25, over 10 cents ahead of last week's highs.

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Price charts NMCE (India)