Natural rubber (NR) prices on both rubber futures and physical rubber markets in Asia settled higher on Friday than the previous Friday, mainly due to upbeat global stocks and a weaker yen against the dollar.
At the same time, Styrene Butadiene Rubber (SBR) in Southeast Asia was in the range of 200 US cents/kg to 210 US cents/kg whereas Technically Standard Rubber (TSR20) was in the range of 165 US cents/kg to 169 US cents/kg.
A cue from U.S. Federal Reserve Chair Janet Yellen on Friday to raise interest rates before the middle of next year if the labor market improves more rapidly is expected to restore investors’ confidence and the rubber market.
As rubber fundamentals have outweighed bearish market sentiment since the beginning of August, both rubber futures and physical rubber markets in the region signal improvement in NR prices.
– IRCo
