London – Natural rubber markets provided mixed signals in the latest ERJ snapshot of the trade, with Thailand in particular bucking a trend towards declining prices in China and Japan.
On the Shanghai Futures Exchange, prices for RU1805 – the most heavily traded NR future – stood at Yuan13,030/tonne on 28 Feb, 9% lower than the Yuan13,120/tonne close on 31 Jan.
High inventory stock as well as the Chinese New Year in February, which generally impacts demand, were among the contributing factors to the decline.
In Tokyo, meanwhile, TOCOM back-month prices for RSS3 materials showed a steady decline, closing at ¥193.8/kg on 28 Feb, 5% lower than ¥204.1/kg on 24 Jan.
There was, however, more positive news from Bangkok, where wintering season has already started and floods have impacted supply.
Spot prices for RSS1 grades stood at $181.35/100kg on 28 Feb, a healthy 5.2% growth compared to $172.30/100kg on 31 Jan.
With a 5.3% increase, RSS3 grades rose to $177.70/100kg on 28 Feb, compared to $168.65/100kg at the end of January.
In Kuala Lumpur, prices for SMR20 were down 1% at $150.1/100kg at the end of February, compared to $152.00/100kg on 30 Jan.
Latex spot prices in KL, however, showed a 5% improvement at $123.85/100kg on 28 Feb, compared to $117.85/100kg at the end of January.