KUALA LUMPUR, Malaysia (June 16, 2011)—Natural rubber prices are unlikely to fall below $4 a kilogram in the third quarter this year, International Rubber Consortium's acting chief executive Yium Tavarolit said.
Global natural rubber production is expected to hit 9.9 million metric tons this year, the Association of Natural Rubber Producing Countries said in its latest report. ANRPC members account for about 92 percent of global natural rubber output.
On Tokyo's Tocom Exchange, prices for the six-month contract eased, closing at yen $4.75 per kilogram June 16.
In Singapore, SGX said short-dated RSS3 was unchanged from June 15 prices at about $5.09 with longer-dated contracts down at around $4.90. Short-dated TSR 20 was trading down by about $0.02 at $4.60.
In India, the NMCE saw June deliveries rise to around $5.14 per kilo.
In China, the Shanghai Futures Exchange also saw prices by nearly a yuan, with June deliveries trading at around $5.40 per kilo.