Natural rubber price hits record high in India

ERJ staff report (DS)

Mumbai -- Natural rubber prices hit record levels earlier today in India. In Tokyo rubber was trading at prices up to $3.28/kg, with the same levels being seen in Singapore.

RSS4 grades hit Rs 146 ($3.21)/kg on India's NMCE exchange today, with press comment suggesting Rs150 ($3.30) will be reached in the very near future.

In Tokyo, Tocom's 6-month benchmark contract was trading around yen 290 ($3.20)/kg, though short-dated contracts were higher, at around yen 297.

Singapore's Sicom exchange saw short-dated RSS3 contracts trading around $3.28/kg, while six-month contracts were lower at $3.19 or so.

Eighteen months ago, the price was just $1/kg, but quickly rose to $1.50, and has steadily been increasing ever since.

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Prices on TOCOM Tokyo

Prices on SICOM Singapore

Prices on NMCE India

Spot rubber prices surge to new record The Hindu Business Line (India)