24-04-2024
Japanese rubber futures fell for a second straight session today, tracking lower physical prices in top producer Thailand.
The Osaka Exchange October delivery was down 5.1 yen and The Shanghai Futures Exchange September delivery was down 155 yuan
Thailand’s benchmark export-grade smoked rubber sheet (RSS3) was quoted at 83.67 baht per kg on a free-on-board basis on Tuesday, 0.96% lower than Monday.
Oil prices rose in early trade today, adding to gains in the previous session, after industry data showed a surprise drop in U.S. crude stocks last week, a positive sign for demand.
Low demand, particularly from China, is currently dominating the natural rubber market, compounded by the weak currencies of major exporting countries and the geopolitical conflicts in the Middle East and Ukraine.
Limited supply remains, and farmers won’t be able to begin tapping earlier than usual this year because of the hot weather season in major rubber-producing countries.
For daily price & trend updates please subscibe our service
Rubber India
9495989460
