Japanese rubber futures dropped to below 190 yen per kg in late September, remaining close to their lowest level since August 2020, on expectations of lower demand from top customer China, concerns about slowing global growth, and a slowdown in auto production due to a chip shortage. Chinese data released last week pointed to slower growth in the second half of this year while the potential default of over-indebted property giant Evergrande prompted commodities sell-off.
Historically, Rubber reached an all time high of 526.40 in February of 2011. Rubber - data, forecasts, historical chart - was last updated on September of 2021.
Rubber is expected to trade at 242.95 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 316.26 in 12 months time.