Rubber prices in Asia were continually weighed down by weak rubber market sentiment and confidence and long liquidation ahead of China’s Lunar New Year holiday for a week starting Friday.
It is noticeable that the nearby rubber contract on the Tokyo rubber futures fell nearly 18% between 3 and 31 January, while the physical TSR20 price in Asia fell only around 11% during the same period. That led the physical TSR20 price to hover around 200 US cents/kg.
At this stage, IRCo and International Tripartite Rubber Council (ITRC) are closely monitoring the current rubber price movements and will take appropriate action in the near future if and when necessary.
Source: IRCo
