NR prices resume upward trend

London -- After a brief correction on Wednesday, natural rubber prices continued upward on Thursday. Wednesday's prices in India followed the downhill pattern set in Tokyo, but prices in Tokyo recovered strongly on Thursday, ending the day at yet another record high.

In Tokyo the benchmark 6-month futures prices closed at 258.5 yen/kilo, above Tuesday's close of 257.2. All futures contracts except one were trading above 255 ¥/kg (around $2.15). March 2006 deliveries closed at 254.6¥/kg

In India's spot markets, 4-sheet grades lost about 1 Rupee/kg on Wednesday and closed at Rs 79 a kg both at Kottayam and Kochi against Rs 80 a kg on Tuesday.

In Singapore trading was thin after the long holiday. RSS3 spot reached 210 US cents/kg on just a few trades, while the futures contracts closed around 212 US cents/kg, compared with around 207 on Wednesday. The 12-month contract nominally closed at 215.5, but there were no trades. Meanwhile there was no trading at all in RSS1, but the spot price closed at 344 Sing cents/kg while the 12-month contract closed at a nominal price of 352.75 Sing cents/kg (US$2.16), up by about three percent from 344.75 set on Wednesday.

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Price charts SICOM (Singapore)

Price charts Tocom (Tokyo)

Rubber prices fall on bearish global trend Hindu Business Line (India)