NR prices unlikely to fall below $4.50 - IRCo

ERJ staff report (DS)

London -- IRCo (The international Rubber Consortium) now says NR prices are unlikely to fall below $4.50/kg, upgrading the organisation's estimates, which previously said prices may go as low as $4.00. Rubber has been hovering around the $5 for the last few weeks. A report originally printed by the Dow Jones news agency but posted on the IRCo website quoted Yium Tavarolit, Chief Secretary of the International Rubber Consortium saying fundamentals point to higher prices, while stocks are low.

On Tokyo's Tocom Exchange, prices for the six-month contract moved up by yen 4 overnight trading at yen 391 ($5.05) per kg on Wednesday 3 August. Shorter-dated prices were trading unchanged at yen 382.

In Singapore, SGX said trading was quiet, with November 2011 deliveries trading around $4.84, some $0.03 down on yesterday. TSR 20 for delivery in December 2011 was trading up around $0.04 at $4.75.

In India, the NMCE saw September deliveries rise by just over a rupee to around Rs 207 ($4.67) per kilo

In China, the Shanghai Futures Exchange saw prices fall by a fraction of a yuan, with August deliveries trading at around Yuan 34.4 ($5.34) per kilo

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Rubber prices on Tocom (Tokyo)

Prices on SGX (select rubber in the drop-down listing) (Singapore) (Previous Sicom contracts)

Rubber prices on NMCE (India)

Rubber prices on SFE (Shanghai)

IRCo Weekly market watch (25 - 29 July 2011) from IRCo

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Natural Rubber Prices to Stay above $4.50/Kg on Low Stocks Dow Jones via IRCo (Thailand)

Asian Rubber Ends Down; Support Level Likely At $4.50/Kg Dow Jones via IRCo (Thailand)

Rise in spot rubber prices India Infoline (India)