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- Benchmarks SICOM TSR 20 and SICOM RSS 3 averaged US$1.296/kg and US$1.652/kg in August, decreasing 1% and 7% from a month ago respectively.
- The tight range trading, in particular for SICOM TSR 20, may continue in the short term as the market seeks a new equilibrium, one that balances the bullish risk from the extension of the export curtailment from ITRC (comprising Indonesia, Malaysia and Thailand) to the end of 2016 and the bearish risk of stock overhang in SHFE. It is believed that a good amount of rubber stocks in SHFE may soon need to find a home in the physical market as their validity for re-tendering nears expiration.
- Combined SICOM rubber futures traded 97,484 contracts (487,420MT) in August, 22% lower than in July, on tapering market volatility. August daily volume averaged 4,431 lots (22,155MT). Combined open interest in SGX SICOM rubber futures ended August at 52,353 contracts (261,765MT), declining 5% from a month ago.
FULL RUBBER MARKET REPORT AVAILABLE here
