20 Nov 2020
Strong uptrend registered in October has now been reversed
London – Natural rubber markets saw a sudden downtrend in prices, as a new wave of Covid-19 restrictions were introduced globally amid the rising number of cases.
Almost all NR futures monitored by ERJ over the two weeks to 13 Nov, posted declines, reversing a strong uptrend registered in October.
The most-active rubber contract for January delivery in Shanghai and RSS3 futures in Japan both fell 2% during the two-week period.
Other markets, including Kuala Lumpur and Singapore also saw minor price declines.
Uptrend continued for Kuala Lumpur latex prices in response to fears of rubber gloves' shortage and a surge in Covid infection rates globally.
Shanghai SHFE ru2101: Yuan 14,385/tonne (13 Nov) compared to Yuan15,680/tonne (30 Oct) – down 8%
OSE RSS3 nearby month: Yen200/kg compared to Yen250.2/kg – down 2%
Singapore SGX TSR20: $158.2/100kg compared to $158.6/100kg – down 0%
Kuala Lumpur SMR20: $154.55/100kg compared to $170.89/100kg – down 9%
Kuala Lumpur Latex: $179.65/100kg compared to $174.90/100kg – up 2%
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