London – Natural rubber prices rose in the Far East markets over the recent weeks as China and Japan signalled signs of recovery from the Covid-19 pandemic.
Almost all NR futures monitored by ERJ over the two weeks to 27 Nov posted improvements, finishing the month just under October levels.
The most-active rubber contract for January delivery in Shanghai rose 6% to close at Yuan15,230/tonne on 27 Nov.
In Osaka, Japan, RSS3 futures for May delivery finished Yen245.7/kg, posting a sharp 23% rise compared to mid-November.
Other markets, including Kuala Lumpur and Singapore also posted strong gains, while the uptrend for Kuala Lumpur latex prices came to a halt with a sharp 20% decline.
China’s continued expansion of manufacturing activity for nine months in a row, in addition to supply tightness following flash floods and leaf fall disease in Thailand, have contributed to the rise in NR prices in recent weeks.
Shanghai SHFE ru2101: Yuan15,230/tonne (27 Nov) compared to Yuan 14,385/tonne (13 Nov) – up 5.8%
OSE RSS3: Yen245.7/kg compared to Yen200/kg – up 22.85%
Singapore SGX TSR20: $165.2/100kg compared to $158.2/100kg – up 4.4%
Kuala Lumpur SMR20: $159.25/100gk $154.55/100kg – up 3.2%
Kuala Lumpur Latex: $143.96/100kg compared to $179.65/100kg – down 20%