NR prices ease on profit-taking, but further rises expected

London -- Natural rubber prices have eased in the first few days of this week, closing around 5 percent lower than Friday's record highs.

In Tokyo the benchmark 6-month futures prices closed at 255.5 yen/kilo on Wednesday, some 5 percent lower than Friday's close of 267.5. All futures contracts were trading at around 255 ¥/kg (around $2.15).

India's spot markets followed the global trend downward, but by the close on Tuesday were still higher than on Friday after strong surges on Monday. 4-sheet grades closed at Rs 83/kg in Kochi on Tuesday, well ahead of Friday's Rs 80 closing price. Futures prices also rose strongly, with all contracts in the high-80s range, and RSS4 for May delivery closing at Rs90.4. Some commentators were suggesting prices may still breach the Rs100 mark

In Singapore trading was brisker than the past two days. RSS3 spot fell back to 207 US cents/kg, from a high of 220 late last week, while the futures contracts closed around 207.5 US cents/kg, compared with around 220 last week. The 12-month contract nominally closed at 210.5, but there were no trades. Meanwhile there was no trading at all in RSS1, but the spot price closed at 342 Sing cents/kg, down 14 cents, while the 12-month contract closed at a nominal price of 349 Sing cents/kg (US$2.14).

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Price charts SICOM (Singapore)

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