NR prices continue to rise well above the $2.50 mark

Singapore - Natural rubber prices resumed their upward trend in markets around the world following the holiday in Singapore.

In Tokyo the benchmark 6-month futures prices closed at 298.3 yen/kilo ($2.66) on Wednesday, after failing to breach ¥300 during the day. Futures contracts are currently trading above 290 ¥/kg (around $2.60).

Prices in Singapore also rose after the holiday. RSS3 spot is trading at around 254.25 US cents/kg. Meanwhile there was no trading at all in RSS1, but the spot price closed at 405.25 Sing cents/kg ($2.55) on Tuesday.

In India prices continued beyond the Rs 100 mark, with spot prices for RSS4 ending at Rs100.5 ($2.20) and futures prices around Rs105.

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Price charts NMCE (India)

Renewed buying buoys spot rubber The Hindu Business Line (India)