NR prices drop 10% this week, to just over yen 300/kg

Tokyo - Natural rubber prices fell back once more on Wednesday declining to just over ¥300/kg. Prices fell in other markets, following the lead set in Japan.

In Tokyo the benchmark 6-month futures prices closed at 301.1 yen/kilo ($2.62) on Wednesday, down over $0.20 from Monday's highs. Shorter futures contracts are currently trading around 310 ¥/kg (around $2.70).

In Singapore prices also moved down, following the trend in Tokyo. Short-dated RSS3 closed at 268 US cents/kg on Wednesday, down 8 points, while the 12-month contract stood at 259.5 cents, down by 10 cents on Tuesday's close. Meanwhile short-dated RSS1 closed down over 10 points at 435 Sing cents/kg, (US$2.80). The 12-month contract stood at 421.5, around 15 cents below Tuesday's close.

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