LONDON—Far East natural rubber markets have continued their recovery from "multi-year lows" reached at the end of October, as demand slowly picks up in the region.
Both physical rubber and futures markets gained during the two weeks to Nov. 18, with Shanghai rubber contracts for January delivery closing nearly 4 percent higher than Nov. 4.
Rubber futures in Osaka and Singapore tracked the gains in the Shanghai market as China—top NR buyer—relaxed COVID-19 restrictions.
Furthermore, stronger crude prices supported the markets despite the general weakness in the global economy.
Physical rubber markets also gained due mainly to the cyclical year-end demand from Chinese traders, ahead of the lunar new year in February.
Latex prices registered a 4.3-percent increase as the number of COVID-19 cases continued to rise in China.
Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].