10 Dec 2021
Osaka rubber futures see trend reversal following six-month peak in late November
London – Key physical and futures natural rubber (NR) markets presented a mixed picture in the two weeks to 3 Dec as the outbreak of the new Covid variant, Omicron impacted sentiment.
Osaka rubber futures, which hit a six-month high by 24 Nov, saw a reversal in trend at the end of last month on fears of lower demand and Omicron. Despite the negative development, rubber contract for May closed 4.6% higher on 3 Dec compared to two weeks before.
In Shanghai, the most active rubber contract for May delivery fell 3.2%, while rubber futures in Singapore experienced a mild 0.5% decline.
Physical markets also saw a mixed reaction with Kottayam RSS4 posting a 3% increase in value amid short supply and increasing automotive demand.
In Kuala Lumpur, latex prices were up 5.5% as Omicron lifted the prospects of demand for rubber gloves.
| Market | 19 November to 3 December | Change |
| Shanghai SHFE ru2205: | Yuan15,205/tonne to Yuan14,720 | -3.2% |
| Osaka RSS3: | Yen229.8/kg to Yen240.6/kg | +4.6% |
| Singapore SGX TSR20: | $176.2/100kg to $175.2/100kg | -0.5% |
| Kottayam RSS4: | $244.97/100kg to $252.74/100kg | +3.1% |
| Kuala Lumpur SMR20: | $176.39/100kg to $178.49/100kg | +1.2% |
| Kuala Lumpur Latex: | $133.62/100kg to $141.00/100kg | +5.5% |
| Bangkok RSS3: | $200.14/100kg to $199.59/100kg | -0.2% |
| Bangkok STR20: | $179.46/100kg to $175.35/100kg | -2.3% |
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Already a subscriber? Log in here
