Natural rubber prices ease back slightly in India
6 Sep 2024
Following recent surge RSS4 seems to have peaked on the Kottayam exchange early last month...
Kuala Lumpur - Sky-high prices for natural rubber (NR) in India have shown signs of easing, without straying too far from the peak seen in early August.
According to figures posted by the Association of Natural Rubber Producing Countries (ANRPC), RSS4 rubber was trading at $278.3/100kg in Kottayam on 4 Sept.
Following a surge beginning in July, prices for the NR grade on the Indian exchange reached a high of around $291/100kg on 8 Aug, the ANRPC data shows.
The spike has been linked to the impact of adverse weather conditions on local growers, a decline in overseas supplies, and low inventories at tire makers in India.
Elsewhere, NR futures pricing has maintained its upward momentum of recent weeks, on data indicating that demand was outpacing supply.
Major NR markets reached a five-week high during the trading week ended 30 Aug, driven by growing concerns over supply shortages, reported Japan Stock Exchange (ERJ report).
