1 Apr 2022
Markets decline in Shanghai and Singapore, as Japanese rubber futures gain 5%
London – Natural rubber (NR) markets presented a mixed picture in the two weeks to 25 March, as crude prices stabilised following a sharp rise earlier in the month.
In Japan, rubber futures rose to their highest in more than two weeks, helped by weakness of the yen against the US dollar.
The Osaka Exchange rubber contract for August delivery finished Yen256.3/kg on 25 March, up nearly 5% compared to two weeks earlier.
In China, however, an outbreak of asymptomatic Covid and its impact on a number of tire makers saw Shanghai futures slide 2.2% to Yen13,510/tonne.
In physical markets, prices headed north in India as weekly average for Kottyam RSS4 rubber rose 2.5%, due mainly to tight supply, import hurdles and higher crude prices.
In Kuala Lumpur, however, latex prices fell nearly 6% as global Covid restrictions were eased and demand for rubber gloves slowed down.
|
Market |
11 March – 25 March |
Change |
|
Shanghai SHFE ru2205: |
Yuan13,825/tonne to Yuan13,510/tonne |
-2.2% |
|
Osaka RSS3: |
Yen244.1/kg to Yen256.3/kg |
+4.9% |
|
Singapore SGX TSR20: |
$177.5/100kg to $172.3/100kg |
-2.9% |
|
Kottayam RSS4: |
$219.73/100kg to $225.63/100kg |
+2.5% |
|
Kuala Lumpur SMR20: |
$178.97/100kg to $172.55/100kg |
-3.5% |
|
Kuala Lumpur Latex: |
$171.80/100kg to $161.56/100kg |
-5.9% |
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