Rubber futures hovered around 161 US cents per kg, down from a nine-month high of 168 US cents per kg hit on March 11th. Improved weather conditions in China's rubber-producing regions, coupled with the start of harvesting overseas, have raised prospects for increased supply. Concurrently, recent reports suggested tepid demand for rubber's end-products. Moreover, China's state planner predicted an intensified price competition among electric car and plug-in hybrid automakers this year due to oversupply, potentially exerting additional downward pressure on rubber prices.
Rubber increased 2.40 US Cents/kg or 1.54% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Rubber reached an all time high of 526.40 in February of 2011. Rubber - data, forecasts, historical chart - was last updated on April 26 of 2024.
Rubber increased 2.40 US Cents/kg or 1.54% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Rubber is expected to trade at 164.86 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 171.84 in 12 months time.