NR prices touch $2.50 in Japan, hit records elsewhere

Singapore - Natural rubber prices have surged in the last few days, adding 5 percent in value since the beginning of the week and setting new records in all markets.

In Tokyo the benchmark 6-month futures prices closed at 275.7 yen/kilo ($2.49) on Wednesday, down slightly on the intra-day high of 277.8 ($2.51), but ahead of the highs set in early February Futures contracts are currently trading at around 270 ¥/kg (around $2.44).

In Singapore prices have surged ahead in the last few days as RSS3 spot is trading at around 235 US cents/kg, well ahead of the record 220 achieved in early February, while the futures contracts closed around 237 US cents/kg, compared with around 220 during Feb. 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 Sing cents/kg (US$2.40).

Spot RSS4 rubber in Kottayam, India jumped to Rs 94.5 / kg ($2.10) on Tuesday, yet another all-time high in India. Nevertheless prices - in dollar terms - there are still around 5 percent below the global peak set a few months ago.

In other news, Malaysian newspapers are reporting that trucks carrying latex have become prime targets for thieves, as prices have been driven ever higher.

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Price charts NMCE (India)

Spot rubber flares up further The Hindu Business Line (India)

Spot rubber posts record gains Sify (India)

Latex lorries prime target [for thieves]The Star (Malaysia)