London – Natural rubber (NR) prices have recently started to show some signs of recovery, in line with a strengthening in crude oil prices and a pick-up in manufacturing activity, particularly in China.
Benchmark rubber contracts on the Shanghai, Singapore and Tokyo exchanges made gains over the two weeks to 10 April, ERJ’s snapshot of trading on Far East commodity markets shows.
Global lockdowns in the face of Covid-19, slow demand from tire makers and rising inventory levels are, however, expected to keep a lid on the NR-price recovery.
Shanghai SHFE ru2009: Yuan 10,140/tonne (10 April) Yuan9,700/tonne (27 March) – up 4.5%
Tokyo Tocom RSS3 back month: Yen153/kg compared to Yen149.6/kg – up 2.2%
Tokyo Tocom TSR20 back month: Yen127.5/kg compared to Yen131.9/kg – down 3.3%
Singapore SGX TSR20*: $1.14/kg compared to $1.10/kg – up 3.3%
Kuala Lumpur SMR20: $110.61/kg compared to $113.05/kg – down 2.15%
Kuala Lumpur Latex: $96.08/kg compared to $97.46/kg – down 1.4%
*Singapore’s SGX was closed to mark Good Friday on 10 April and figures reflect prices at the end of business on 9 April.