Rubber futures were trading around $1.5-per-kilogram, down roughly 20% from their February peak and approaching their lowest level since December 2020, as lingering concerns about a global recession triggered by an aggressive tightening from central banks in leading economies continued to hang over the market. Prospects of weak demand in top consumer China and growing tensions across the Taiwanese Strait added to the bearish outlook. According to China's National Bureau of Statistics, strict Covid lockdowns in major Chinese cities pressed the country's manufacturing activity to contract in July.
Historically, Rubber reached an all time high of 526.40 in February of 2011. Rubber - data, forecasts, historical chart - was last updated on August of 2022.
Rubber is expected to trade at 150.36 US Cents/kg by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 143.57 in 12 months time.