Natural rubber futures hit two-year high

Tokyo – Natural rubber futures have hit a two-year high across major Far East exchanges, supported by “concerns over supply-chain disruptions,” rising crude oil prices and stronger China PMI data for March.

Over the week ended 3 April, new buying interest and short-covering activities pushed prices to their “highest levels in two years,” reported Japan Exchange Group (JPX) 6 April.

In Osaka, Japan, OSE’s September rubber contract led gains, settling the week up 5.2%.

Prices, said JPX, broke “decisively above the key resistance level at Yen380.0” to reach a fresh high.

Trading volume and open interest also increased during the week, indicating “fresh buying interest entering the market.”

In Shanghai, SHFE and INE contracts both rose 1.6% week-on-week, while in Singapore, SICOM’s active June contract ended 1.5% higher over the week before.

Crude oil markets added support, with US WTI prices closing at $112.06/bbl, their highest level since 2022, as the Middle East conflict entered its fifth week.