Natural rubber futures bottomed around the JPY 250-per-kilogram mark, moving away from an over two-month peak of JPY 270 amid lingering concerns of a global recession after the US and several European countries hiked interest rates to rein on sky-high inflation. Slowing economic activity in China amid persistent coronavirus outbreaks also dented demand from the world's top rubber consumer. On top of that, recovering rubber supply from major producing countries like Thailand and Vietnam has kept a lid on prices. Meanwhile, Japan OSE rubber stocks at designated warehouses declined by 87 tonnes to around 7,455 tonnes, while those in Shanghai INE tumbled by 6,734 tonnes. On the flip side, inventories in Shanghai SHFE increased by 1,402 tonnes.
Historically, Rubber reached an all time high of 526.40 in February of 2011. Rubber - data, forecasts, historical chart - was last updated on June of 2022.
Rubber is expected to trade at 275.37 JPY/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 292.14 in 12 months time.