Global natural rubber supply shortfalls continued in August.
LONDON—Despite a rise in crude oil prices, and the resulting pressure on synthetic rubber prices, NR prices showed little sign of strengthening last month as wintering season came to an end in Southeast Asia.
On the Shanghai Futures Exchange, spot prices for RU1805—the most heavily traded NR future—stood at $1,777 on the week ending May, almost on a par with levels noted on March 30.
In Tokyo, meanwhile, TOCOM back-month prices for RSS3 materials closed at $1.76 per kilogram on May 2,which is up 6.6 percent compared to its closing price on March 28.
In Bangkok, government efforts to step up regional rubber activities in the shape of a new partnership consisting of Indonesia, Malaysia, Vietnam and Thailand, have yet to pay off.
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Spot prices for RSS1 grades in Bangkok showed a 3.2 percent increase at $179.20/100kg on May 4, compared to levels on March 29.
Tracking a similar trend, RSS3 prices rose 3.3 percent at $175.60/100kg on May 4, compared to the price recorded at the end of March.
In Kuala Lumpur, prices for SMR20 were up nearly 4 percent month-on-month at $143.85/100kg on May 4.
With a 7.7 percent increase, latex spot prices in KL stood at $122.55/100kg on May 4, compared to $113.75/100kg on March 30.
