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March 08, 2021 09:44 AM

MRB: Natural rubber prices set to hold recent gains

ERJ Staff
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    Kuala Lumpur – Natural rubber prices are expected to sustain recent gains, supported by a range of positive developments in the supply/demand situation and in the international trade arena, according to the Malaysian Rubber Board (MRB).  

    In its February review, the MRB reported prices strengthening for a range of NR grades during the month – including SMR 20, up 17.2% to 737.50 sen/kg, and latex concentrate, which surged 29.3% to 688.00 sen/kg. 

    As well as tighter supply after the wintering season in some producer countries, the Kuala Lumpur rubber market was buoyed by “global Covid-19 vaccination progress, optimism on US-China relations, a weaker ringgit, the $1.9-trillion stimulus in US.” 

    Gains, however, were “capped by the absence of the Chinese market players and slower manufacturing activities in China from the Lunar New Year break,” according to the Malaysian body.

    MRB also noted new ANRPC figures for 2020, showing a 7.7% decline in world NR production, to 12.8 million tonnes, compared to a 6.9% drop in world demand at 12.827 million tonnes. 

    Other factors influencing NR traders included crude oil prices, international currency movements and trader-sentiment in regional rubber futures markets. 

    Meanwhile, the China Association of Automobile Manufacturers reported automotive vehicles sales in the country had surged 30% year-on-year in January, to around 2.5 million vehicles. 

    On the other hand, MRB reported losses in some regional rubber futures markets on "profit-taking by investors" and concerns that OPEC would increase crude-oil supply to capitalise on rising prices and demand. 

    Market sentiment, it added, was also dampened by official data showing that Malaysian NR production increased 17.1% in December 2020 to 49,825 tonnes as compared to 42,554 tonnes in the previous month. 

    Indonesia, meanwhile, has increased the maximum size of new rubber plantations to 23,000 hectares from 20,000 hectares previously, MRB also noted.

    MRB rubberr prices Feb 21


     

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    European Rubber Journal is published bi-monthly by NUERJ Ltd.

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