NR prices continue gradual decline from historic highs

London -- Natural rubber prices are drifting downwards from their record highs of last week, but remain well above $2.10/kg, which is high in historical terms.

In Tokyo the benchmark 6-month futures prices closed at 258.5 yen/kilo on Friday, down six points from yesterday, but still within striking distance of last Friday's record-breaking close of 267.5. All futures contracts were trading at around 257 ¥/kg (around $2.19).

India's spot markets drifted downward, closing slightly down, at Rs81.9. Futures prices fell slightly though all contracts remained in the high-80s range, and RSS4 for May delivery closing at Rs 88.4 ($2.00), slightly lower than yesterday's close of Rs 88.9.

In Singapore RSS3 spot fell three US cents/kg, to 209, still high in historical terms but lower than the record figure of 220 achieved late last week, while the futures contracts closed around 211 US cents/kg, compared with around 220 last week. The 12-month contract also fell, nominally closing at 214, down from yesterday's figure of 212 but there were no trades. Meanwhile there was no trading at all in RSS1, but the spot price closed at 344 Sing cents/kg, down 4 cents, while the 12-month contract closed at a nominal price of 352.5 Sing cents/kg (US$2.17).

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Price charts NMCE (India)

Global recovery keeps spot rubber steady Hindu Business Line (India)