IRCo reports continued price increases in natural rubber

ERJ staff report (DS)

Kuala Lumpur -- The International Rubber Consortium Limited (IRCo) reported further price gains in natural rubber (NR) in the week ended 17 December. The group posted a log on its website on 20 December noting that its Daily Composite Price (DCP) extended its rise consecutively and ended at 468.26 US cents/kg on Friday 17 Dec.

The group said, "Both rubber futures and physical markets also floated and finished the week higher under support of supply tightness caused by persistent rainfall in rubber producing countries and steady demand from tyre and non-tyre manufacturers, high oil prices, fund buying, a stable Japanese yen against the dollar, and anticipation of tighter supply in 1Q11 and 2Q11."

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Weekly report from IRCo