NR prices recover after brief correction, still around $2.70/kg

Singapore - Natural rubber prices suffered a correction at the end of last week, but are now increasing once more on strong fundamentals. Prices in Tokyo jumped over ¥300/kg once more on Monday, remaining static on Tuesday and other markets followed.

In Tokyo the benchmark 6-month futures prices closed slightly up on the previous day, at 305.9 yen/kilo ($2.72) on Tuesday, similar to the prices recorded a week ago, but five percent off the high of ¥319.6. Futures contracts are currently trading just above 305 ¥/kg (around $2.71).

In Singapore prices also recovered after a sharp correction at the end of last week. RSS3 spot closed at around 270 US cents/kg on Monday, up over 6 cents from Friday's close and matched last week's highs. Futures contracts were trading at similar levels. Meanwhile there was no trading at all in RSS1, but the spot price closed above 428 Sing cents/kg, (US$2.71), up six points and within half a point of the highs of last week.

Spot RSS4 rubber in Kottayam, India recovered from the correction at the end of last week, to close up 4 at Rs 110/kg ($2.40) about 6 percent below the previous week's high of Rs 117 / kg.

The Malaysian Rubber Board official physical seller price for tyre-grade SMR 20 was up 9 points on Monday at 836 sen/kg ($2.29) three percent off last week's 20year high of 864 sen.

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Price charts NMCE (India)

Spot rubber prices recover The Hindu Business Line (India)

CPO futures, rubber, tin close firmer Business Times (Malaysia)