NR prices jump a further 2 percent overnight

London -- Prices of natural rubber jumped a further two percent overnight. In Tokyo the benchmark 6-month futures prices closed at 257.2 yen/kilo, up nearly 5 points from yesterday's close of 252.8 and over seven percent higher than the record figures achieved a week ago. All futures contracts were trading above 250 ¥/kg, compared with around 245 yesterday. Combined with a fall in the yen against the dollar, this brought the price to over 213 US cents/kg.

In India's spot markets, 4-sheet grades topped Rs 79/kg on Monday - well ahead of last week's all-time high of Rs71 - and traders suggested the spot price would continue to rise strongly this week on the back of bullish trading in other global markets and the onset of the wintering season. One- and two-month futures prices were trading around Rs 95/kg (US $2.15), according to local reports.

In Hat Yai, Thailand, sheet rubber was trading at B72.49 (US$1.86) per kg, while latex was a little lower at B65.5, according to Piyaporn Lim, President of the Thai Rubber Association. Ms Lim was quoted in the Bangkok Post saying, "the continuing rubber price rise might affect rubber exporters who had earlier concluded shipment deals in advance with foreign importers."

Markets were closed in Singapore for the Chinese New Year celebrations, but RSS3 broke through the 200 US cents/kg level on Friday and remained there when markets closed for the holiday weekend. Meanwhile RSS1 closed at 327.5 Sing cents/kg (fractionally over 200 US cents) on Friday. Sicom re-opens on Wednesday after the new year break.

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Price charts SICOM (Singapore) (closed Monday Tuesday for Chinese New year)

Price charts Tocom (Tokyo)

Bullish global market buoys rubber further Hindu Business Line (India)

Thailand: Rubber Prices On Upward Trend Bernama (Malaysia)

Sugar soars with rubber Sify (India)

Thai growers enjoy higher rubber price Bangkok Post (Thailand)

Traders pile up stocks as rubber hits record Rs 79 Business Standard (India)