LONDON—Far east natural rubber markets saw a rebound in prices in the two weeks leading up to Oct. 8, as China ended its 'golden week' holiday.
In Shanghai, the most active rubber contract for January delivery posted rubber futures closed at 7.7 percent up compared to Sept. 24, reaching a nearly two-month high.
In Osaka, Japan and Singapore, rubber futures tracked a similar trajectory, reporting 9.9 percent and 6.8 percent growth, respectively.
Physical markets for latex and SMR20 on the Kuala Lumpur Stock Exchange also saw healthy growth over the two-week period, while Kottayam RSS4 posted a 1.4 percent decline amid increased supply.
Reports of lower COVID-19 infection rates, a sharp rise in crude oil prices and the devaluation of Far East currencies—including Japanese yen—positively influenced the price development; however, demand from China remained strained amid an ongoing power crisis, which has severely impacted manufacturing in the country for more than two months.
Shanghai SHFE ru2201: $2,076.66 (Yuan 13,365)/ton (Sept. 24) to $2,236.71 (Yuan 14,395)/ton (Oct. 8) – up 7.7 percent
Osaka RSS3 nearby month: $0.80/lb to $0.88/lb (Yen 201.0/kg to Yen221/kg) – up 9.9 percent
Singapore SGX TSR20: $160.20/220 lbs to $171.0/220 lbs – up 6.8 percent
Kottayam RSS4: $230.60/220 lbs to $227.33/220 lbs – down 1.4 percent
Kuala Lumpur SMR20: $160.58/220 lbs to $169.56/220 lbs – up 5.6 percent
Kuala Lumpur Latex: $119.57/220 lbs to $122.69/220 lbs – up 2.6 percent