The rubber market kicked off December on a positive note, with futures rising above 250 JPY/Kg on concerns that floods and unfavourable weather would reduce output in Vietnam and Thailand. The commodity had its first monthly decline in six months in November as investors unwound long positions after a massive rally that drove prices to a three-year high in October. Still, rubber has almost doubled its value since the start of the year supported by strong demand for medical gloves in the wake of rising coronavirus cases and from the auto industry.
Historically, Rubber reached an all time high of 526.40 in February of 2011. Rubber - data, forecasts, historical chart - was last updated on December of 2020.
Rubber is expected to trade at 241.33 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 211.44 in 12 months time.