IRCo uncomfortable with NR prices above $6

ERJ staff report (DS)

London -- Natural rubber (NR) prices jumped overnight to new records in Tokyo, consolidating the price above yen 500.

A blog on the IRCo (International Rubber Consortium) site said prices are expected to remain bouyant, "rubber prices on both rubber futures and physical markets continue to rise further due mainly to the news on flooding in Malaysia, anticipation and expectation of steady demand from China but tighter rubber supply after the Lunar New Year celebration, and further rises in oil prices in the wake of worsening Egyptian political confrontation."

The blog continues, "We will see a US$6.0 price on physical rubber markets soon because of the above mentioned reasons despite we are actually uncomfortable with too high prices.

In Tokyo, Tocom's benchmark six-month price closed at yen 501.6 ($6.14), at the end of the afternoon session on Friday 4 Feb.

In Singapore short-dated RSS3 closed at $5.80, unchanged from yesterday. Short-dated TSR20 closed unchanged at $5.43/kg .

Indian prices on the NMCE (National Multi-Commodity Exchange) also rose, closing at Rs 259.4 ($5.68)/kg for May delivery.

Chinese prices on the Shanghai Futures Exchange (SFE) moved slightly higher, in thin trading over the holiday period.

This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

NR price blog from IRCo

Rubber prices on Tocom (Tokyo)

Rubber prices on Sicom (Singapore)

Rubber prices on NMCE (India)

Rubber prices on SFE (Shanghai)

---

Rubber Tops 500 Yen to Record as Recovery Boosts Demand Outlook

Bloomberg (Tokyo)

Sheet rubber hits Rs 235/kg on global cues

The Hindu Business Line (India)

NMCE Rubber continues uptrend on extended buying

Commodity Online (India)

Rise in spot rubber prices

India Infoline (India)

Tokyo rubber hits fresh record high

Business Recorder (Pakistan / Tokyo)

Rubber Surges to Another Record on Short Supplies

Jakarta Globe (Indonesia)