14 Oct 2010
ERJ staff report (DS)
Singapore - Natural rubber prices are once more hitting mid-term highs across Asia.
Shanghai saw trading above Yuan 30 000 /tonne ($4.51 / kg), with some lots being sold at yuan 31 795/tonne ($4.78 / kg). This is reportedly an all-time high. Reuters reported Wu Xiao, an analyst with Doto Futures Co Ltd. saying, "Expectation over appreciation of the renminbi has caused capital to flow into the rubber market, and continuous rains in Hainan have also hampered tapping of rubber trees and caused tight supply,"
In Singapore, prices for RSS3 closed above $4 / kg for all contracts dated beyond Feb 2011. The six-month contract closed at $4.03.
Tokyo's benchmark six-month contract closed at yen 338.7 ($4.18) per kg. In mid-session trading, the price hit a peak of yen 342.4 ($4.22)
In India prices are still below the highs of Rs 180 seen in 2008, but rapidly approaching those record highs. Spot rubber is now around Rs 179, while futures contracts for January hit Rs 192.9 ($4.37) on the National Multi Commodity Exchange.
Prices of SMR 20 in Kuala Lumpur hit RM11.65/kg ($3.78/kg)
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Tocom rubber prices from Tocom (Japan)
Sicom rubber prices from Sicom (Singapore)
SFE prices from Shanghai Futures Exchange
Asian tyre grade rubber traded at record on supply squeeze
Reuters (Japan)
Global cues perk up spot rubber prices
The Hindu Business Line (India)
Rubber prices hit new high on tight supply
The Star (Malaysia)
India Infoline (India)
Rubber in Tokyo Advances to 27-Month High as Chinese Demand May Increase
Bloomberg (Japan)
Shanghai rubber futures hit all-time high
Business Recorder (China / Pakistan)
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Already a subscriber? Log in here
