Natural rubber prices continue upward after small correction

London -- Prices of natural rubber have continued their upward trend after a small correction as profit-takers moved in.

In Tokyo the benchmark 6-month futures prices reached 236.2 yen/kilo, well above the 1988 price of ¥228.2/kg. In India's spot markets, some sheet rubber grades topped Rs 75/kg briefly, with futures contracts reaching unheard-of levels over Rs80/kg. Earlier in the week traders were predicting these levels.

In Singapore, RSS3 was trading above 192 US cents/kg with futures showing prices up to 198.50 for the 12-month contract. RSS1 was at 315 Sing cents/kg (or around 193 US cents) with the 12-month price at 325.25. While this is not technically a record high it is the highest since prices for RSS1 reached over $2.2 in 1911 during the south American rubber bubble.

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Rubber tops a record Rs 75/kg Business Line (India)