Natural rubber markets down ahead of Chinese New Year
4 Feb 2022
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Japanese rubber futures slide to four-week low
London – Natural rubber (NR) futures in the Far East markets monitored by ERJ were subdued in the two weeks to 28 Jan, ahead of the week-long Chinese New Year holiday.
Japanese rubber futures hit a four-week low on 25 Jan finishing at Yen233.2/kg, before bouncing to a Yen239.4/kg close on 28 Jan.
Despite the recovery, Osaka Exchange rubber contracts for July delivery was down 2.8% compared to 14 Jan, while Shanghai Futures’ weekly average for the most active rubber contract for May delivery fell 6.8%.
A readjusting of positions by traders ahead of the lunar year holiday, as well as a decision by the US federal reserve to increase interest rates in March impacted futures prices.
Physical markets, bar Kuala Lumpur latex, were generally weak over the two-week period, with Kottayam RSS4 prices flat amid renewed tapping activities.
In Kuala Lumpur, weekly average price for latex inched up 3.0%, while SMR20 contracts fell 1.5% compared to two weeks before.
Market
14 January to 28 January
Change
Shanghai SHFE ru2205:
Yuan15,185/tonne to Yuan14,150/tonne
-6.8%
Osaka RSS3:
Yen246.5/kg to Yen239.4/kg
-2.8%
Singapore SGX TSR20:
$183.3/100kg to $174.2/100kg
-4.9%
Kottayam RSS4:
$216.27/100kg to $216.47/100kg
+0.0%
Kuala Lumpur SMR20:
$180.28/100kg to $177.49
-1.5%
Kuala Lumpur Latex:
$138.07/100kg to $142.30/100kg
+3.0%
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