Mixed trends in NR prices

London -- While natural rubber prices in India rose sharply on Tuesday, prices in Tokyo fell back overnight, losing all the gains made in the last 2 days. In Tokyo the benchmark 6-month futures prices closed at 251.2 yen/kilo, down six points from yesterday's close of 257.2. All futures contracts were still trading above 248 ¥/kg (around $2.10).

In India's spot markets, 4-sheet grades closed at Rs 81/kg on Tuesday after touching Rs81.5 earlier in the day. One- and two-month futures prices were trading around Rs 95/kg (US $2.15), according to local reports. Traders were quoted saying that the market is likely to have peaked in the short term and expected profit-takers to move in, bringing an end to the unprecedented price rise.

In Singapore, where the Sicom market re-opened after Chinese New Year celebrations, trading was thin. RSS3 futures opened higher, and closed at around 207 US cents/kg, compared with around 200 on Friday. The 12-month contract nominally closed at 211, but there were no trades. Meanwhile there was no trading at all in RSS1, but the 12-month contract closed at a nominal price of 344.75 Sing cents/kg (US$2.12), up by about three percent from 334 set on Friday before the holiday weekend.

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Price charts SICOM (Singapore) (closed Monday Tuesday for Chinese New year)

Price charts Tocom (Tokyo)

Bull run takes rubber past Rs 80 Hindu Business Line (India)

Rubber rushes to new high Financial Express (India)

Rubber hits Rs 81 on global spurt Business Standard (India)