20-06-2024
Japanese rubber futures rose for a third session today to track higher synthetic rubber prices, while expectations of prolonged wet weather in top producer Thailand also lent support.
The Osaka Exchange November delivery was up 1.5 yen, or 0.45%, SHFE September delivery was up 195 yuan, or 1.31%.
The most active July butadiene rubber contract on the SHFE was up 75 yuan, or 0.5%.
Brent crude futures edged up in early trade today as Israeli tanks advanced into Gaza, while U.S. crude futures dipped on the prospect of swelling oil inventories.
Thailand’s meteorological agency extended a warning of “heavy to very heavy rains and accumulations that may cause flash flood and overflows” from June 21-25. Prolonged heavy rains may negatively impact rubber yields.
The supply in domestic and foreign regions is still relatively low, and the overall raw material prices remain high, supporting the cost of natural rubber
It is expected that the natural rubber spot market will continue to maintain a high consolidation trend in the short term
For daily price & trend updates please subscibe our service
Rubber India
9495989460
