Tokyo - Natural rubber prices continued their sharp decline on Thursday, falling below Â¥290/kg. Prices in other markets followed the lead set in Japan.
In Tokyo the benchmark 6-month futures prices closed at 289.1 yen/kilo ($2.51) on Thursday, down over $0.30 from Monday's highs. Shorter futures contracts are currently trading around 300 Â¥/kg (around $2.60).
In Singapore prices also moved down, following the trend in Tokyo. Short-dated RSS3 closed at 262.5 US cents/kg on Wednesday, down 5.5 points, while the 12-month contract stood at 252.25 cents, down over 7 cents on Wednesday's close. Meanwhile short-dated RSS1 closed down over 10 points at 424.5 Sing cents/kg, (US$2.67). The 12-month contract stood at 408.5, around 13 cents below yesterday's close.
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Price charts SICOM (Singapore)
Price charts Tocom (Tokyo)
Price charts NMCE (India)
Sharp fall in spot rubber The Hindu Business Line (India)
Download Commodity report from Business Times (Malaysia) (100k .PDF file)