Asian rubber markets settled mostly higher last week as China showed an increase in its manufacturing figures in the last two consecutive months, and this factor was likely to influence market sentiment during the week, and lifted NR prices up further. In addition, a weakening Japanese yen against the dollar tended to support NR prices as well.
IRCo’s DCP stayed higher at 298.16 US cents/kg on Friday, or 4.97 US cents/kg (1.70%) compared with its DCP at 293.19 US cents/kg on Monday. Similarly, Thai RSS-3 also rose to 307.73 US cent/kg on Friday from 303.36 US cents/kg Tuesday (Rubber Market was closed on Monday due to a public holiday in Thailand), or gained 4.37 US cents/kg (1.44% higher). Meanwhile, Thailand STR-20 increased a bit to 287.02 US cents/kg on Friday, or up 2.56 US cents/kg, or 0.90% higher than its settlement price at 284.46 US cents/kg on Tuesday.
Moreover, Indonesia SIR20 also settled a bit higher at 289.00 US cents/kg, or gained 2.00 US cents/kg compared with its initial price at 287.00 US cents/kg on Monday. But, Malaysia SMR20 finished the week at 293.00 US cents/kg on Friday, or lost 2.00 US cents/kg (0.68% lower) compared with its settlement price at 295.00 US cents/kg on Monday.
The benchmark rubber contract for May delivery on TOCOM settled 8.90 yen/kg higher at 276.40 yen/kg on Friday, or increased significantly by 3.33% compared with its settlement price at 267.50 yen/kg on Monday. In addition, Shanghai Futures Commodity Exchange for May delivery also closed a bit higher at 24,960.00 Yuan/ton, or 70.00 Yuan/ton (0.20%) higher than its settlement price at 24,890.00 Yuan/ton on Monday. Furthermore, AFET RSS-3 for July delivery also rose from 97.50 THB/kg on Monday to 100.25 THB/kg on Friday, or gained 2.75 THB/kg, or up 2.82%.
NR supply is expected to be tight in the coming week as main rubber production regions inIndonesia are disrupted by the rainy season as well as main rubber plantation areas in southernThailand and northern Malaysia.
Source: IRCo
