Rubber prices continue upward trend

Singapore - Natural rubber prices continued their upward push on Thursday, pushing prices yet higher in global markets. Reports said violence in Thailand's southern provinces was restricting supply and is likely to push prices still higher by the end of the week.

In Tokyo the benchmark 6-month futures prices closed at 275.9 yen/kilo ($2.48) on Thursday, down slightly on the intra-day high of 280.7 ($2.52), up fractionally on yesterday's record-breaking prices. Futures contracts are currently trading at around 270 ¥/kg (around $2.44).

In Singapore prices seemed to be levelling off as prices showed a mixed trend. RSS3 spot is trading at around 235 US cents/kg, slightly below yesterday's highs, while the futures contracts closed around 236 US cents/kg, unchanged from yesterday. Meanwhile there was no trading at all in RSS1, but the spot price closed almost 369 Sing cents/kg, also well ahed of the early-Feb highs, while the 12-month contract closed at a nominal price of 377.25 Sing cents/kg (US$2.41).

Spot RSS4 rubber in Kottayam, India jumped to Rs 96 / kg ($2.13) on Wednesday, yet another all-time high in India. Growers and dealers were said to be expecting the price to break Rs 100 in the near future.

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Price charts NMCE (India)

Spot rubber goes past Rs 95-mark The Hindu Business Line (India)

RUBBER Outlook India (India)

Commodity RoundupBusiness Times (Malaysia)

'2005 was boom year for rubber, coffee' Financial Express (India)