SINGAPORE (May 19) — Natural rubber prices resumed their upward trend in markets around the world as the end of the week approached, breaching $2.50/kg in Singapore as well as Tokyo.
In Tokyo the benchmark six-month futures prices closed at 289.7 yen/kilo ($2.59) on Friday, down a couple of points on the intraday high of Ñ292.3. Futures contracts are trading at around 280 Ñ/kg (around $2.50).
Prices in Singapore also rose after a slight dip on May 16. RSS3 spot is trading at around 250.75 U.S. cents/kg, while the futures contracts all closed above 250 US cents/kg, although prices declined very slightly from the close on May 17.
Meanwhile, there was no trading at all in RSS1, but the spot price closed at 396.75 Sing cents/kg ($2.50) on May 18, while the 12-month contract closed at a nominal price of 405.25 Sing cents/kg (US$2.55).