NR prices 'Out of Control' - IRCo

ERJ staff report (DS)

Kuala Lumpur -- The International Rubber Consortium (IRCo) has published a blog saying that NR futures prices are out of control. In the post, Anant Thawatchaipracha says, "We feel that rubber futures are now overdone and out of control, and speculators are waiting to liquidate their long positions for profit-taking when the time is ripe. It is noticeable that speculators are tying rubber futures to high crude oil futures for the time being on the top of strong market fundamentals and leave the Japanese yen behind."

In Tokyo, Tocom's benchmark six-month price touched Yen 417 ($4.98 per kilo) during day trading on 22 December.

In Singapore RSS3 was trading around $4.90/kg on Tuesday, while TSR20 was closer to $4.85/kg

Indian prices on the NMCE (National Multi-Commodity Exchange) touched Rs 227 ($5.03)/kg for the first time.

Shanghai prices, usually the world's highest, reached Yuan 37.7 ($5.66) per kilo.

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Commentary from IRCo

Rubber prices on Tocom (Tokyo)

Rubber prices on Sicom (Singapore)

Rubber prices on NMCE (India)

Rubber prices on SFE (Shanghai)

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