ERJ staff report (DS)
Tokyo -- Prices on Tokyo's rubber exchanges jumped upwards again, this time breaking through the yen 400 barrier. A sharply strengthening yen has pushed the price well above $5 once more.
On Tokyo's TOCOM Exchange, prices for the six-month contract increased by around 7 percent on heavy trading, closing at yen 407.3 ($5.16) per kg on Thursday 17 March. March contracts finished at yen 403 ($5.10) per kilo on Wednesday 16 March.
In Singapore, Sicom said short-dated RSS3 prices jumped in response to the increases in Tokyo, closing at around $4.60. Short-dated TSR 20 also jumped by almost 10 percent, closing around $4.35
India's NMCE prices also recovered, with March deliveries finishing up around Rs 7 at around Rs 214 ($4.80) per kilo
Shanghai Futures Exchange increased slightly, with the highest price recorded at yuan 35 ($5.32) per kilo for short-dated contracts. Longer-dated contracts increased slightly, finishing at Yuan 34.7.
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Rubber prices on Tocom (Tokyo)
Rubber prices on Sicom (Singapore)
Rubber prices on NMCE (India)
Rubber prices on SFE (Shanghai)
Spot rubber prices recover The Hindu Business Line (India)
NMCE Rubber regains on fresh buying Commodity Online (India)
Expect rubber prices to stabilise at current levels: KJ Rao, CEAT Economic Times (India)
The impact of commodity price shocks on Indonesia Jakarta Post (Indonesia)
Do speculators really help commodity markets? Commodity Online (India)