25 Sep 2024
Prices ease back slightly following the surge of RSS4 on the Kottayam market in August
Kuala Lumpur - Natural rubber (NR) prices are still trending high in India despite having eased back compared to a surge in earlier this summer.
According to figures posted by the Association of Natural Rubber Producing Countries (ANRPC), RSS4 rubber was trading at $276.65/100kg on 20 Sept, only marginally lower than the $278.3/100kg reported 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, according to ANRPC data.
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.
Last week NR futures generally experienced a significant increase due to severe weather conditions affecting producers in Southeast Asia.
All major Far East markets cloded the trading week ended 20 Sept “sharply higher” compared to the week before, due mainly to typhoons and tropical storms affecting Thailand, southern China, and Vietnam.
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