Natural rubber prices make headway in first week of 2023
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Natural rubber (NR) prices registered gains on most Far East markets in the first trading week of 2023, as demand picked up ahead of the Chinese New Year.
And, over the six weeks to 6 Jan, Shanghai’s most highly traded rubber futures for May delivery closed 1% higher at Yuan12,895 per tonne, as China prepared to ease Covid-19 travel restrictions two days later. In Japan, Osaka RSS3 futures remained stable at Yen220/kg while SICOM futures saw a sharp 4.7% rise over the six-week period.
Physical markets were buoyed by higher demand from top consumers in China, while India’s Kottayam continued its slide, which started last summer, with a 9% drop.
And, over the six weeks to 6 Jan, Shanghai’s most highly traded rubber futures for May delivery closed 1% higher at Yuan12,895 per tonne, as China prepared to ease Covid-19 travel restrictions two days later. In Japan, Osaka RSS3 futures remained stable at Yen220/kg while SICOM futures saw a sharp 4.7% rise over the six-week period.
Physical markets were buoyed by higher demand from top consumers in China, while India’s Kottayam continued its slide, which started last summer, with a 9% drop.
Source: https://www.european-rubber-journal.com