London – Natural rubber prices have continued to ramp up with gains averaging around 20% since the turn of the year, according to ERJ’s latest snapshot of Far East markets.
On the Shanghai Futures Exchange, the closing price for Ru1705 – the most heavily traded NR future – stood at Yuan21,475 /tonne on 2 Feb, 17.8% above the level recorded at the end of last year.
And on Japan’s TOCOM exchange, the back-month price for reference RSS3 materials lifted by 15.4% to Yen315.5/kg in the trading weeks between 1 Feb Nov and 4 Jan, while the near-month reference price rose 23.9% to Yen334.0/kg.
In Bangkok, prices for RSS1 and RSS3 grades each increased by around 27% – to $287.85/100kg and $284.55/100kg respectively – between 30 Dec, 2016 and 2 Feb.
Kuala Lumpur prices for SMR-20 increased by 20.5% to $237.35/100kg over the same trading period. Latex prices, meanwhile, were up by 28.1% to $186.95 as of 2 Feb.