The rubber market has been struggling to find momentum in April, with futures on the Tokyo Commodity Exchange trading around the 220 yen per Kg region for the first time since October of 2019. In the absence of significant fundamental drivers, investors have been quite reluctant to open new positions as concerns over a resurgence in coronavirus cases domestically and in other Asian countries rattled sentiment. The market moves came despite the bullish backdrop of lower supply as production in Southeast Asia continues to be limited in the winter season.
Historically, Rubber reached an all time high of 526.40 in February of 2011. Rubber - data, forecasts, historical chart - was last updated on April of 2021.
Rubber is expected to trade at 219.13 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 191.99 in 12 months time.