Spot rubber hits $4.83 in Tokyo

ERJ staff report (DS)

Tokyo -- Prices for short-dated natural rubber contracts broke through the ¥450 ($4.83) per kg mark in Tokyo earlier today. In the late afternoon session contracts for April delivery (essentially spot contracts) closed at ¥450, with the evening session opening at the same price. This is reportedly an all-time record high, according to Reuters.

Meanwhile the benchmark 6-month contract fell from ¥325 to around ¥318 ($3.42) per kilo.

Reuters said spot contracts are likely to remain firm, in the face of Wintering, political difficulties in Thailand and strong demand.

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Prices on Tocom (Tokyo)

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