Asian rubber markets were mixed last week amid investor’ worries about the global economic instability. However, a significant increase in US NR imports for the last nine months in this year compared with last year, as well as an increase in China NR imports for the last 10 months in this year compared with last year, likely supported NR prices.
IRCo’s DCP closed the week slightly higher at 285.40 US cents/kg on Friday, or 0.07 US cents/kg (0.02%) higher than its DCP at 285.33 US cents/kg on Monday. Meanwhile, Thailand RSS-3 fell a bit to 299.09 US cents/kg on Friday, or down 0.26 US cents/kg, or 0.08% from its settlement price at 299.35 US cents/kg on Monday. Similarly, Thai STR-20 also slid to 282.94 US cent/kg on Friday from 284.09 US cents/kg on Monday, or lost 1.15 US cents/kg or 0.40%.
In the meantime, Indonesia SIR20 also fell a bit to 278.00 US cents/kg on Friday from 280.00 US cents/kg on Monday, or down 0.71%. On the contrary, Malaysia SMR20 settled 4.00 US cents/kg higher at 289.00 US cents/kg on Friday, or gained 1.40% compared with its settlement price at 285.00 US cents/kg on Monday.
The benchmark rubber contract for April delivery on TOCOM settled 0.80 yen/kg lower at 246.40 yen/kg on Friday, or lost 0.32% compared with its settlement price at 247.20 yen/kg on Monday. Furthermore, AFET RSS-3 for June delivery also dropped a bit from 92.90 THB/kg on Monday to 92.75 THB/kg on Friday, or lost 0.15 THB/kg, or down 0.16%. On the other hand, Shanghai Futures Commodity Exchange for May delivery closed 150.00 Yuan/ton (0.63%) higher at 24,035.00 Yuan/ton on Friday compared with its settlement price at 23,885.00 Yuan/ton on Monday.
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NR supply is expected to remain tight in the coming week as main rubber production regions inIndonesia are entering the dry wintering season, while southern Thailand and northern Malaysiaare still in the rainy season.
Source: IRCo
