RUBBER PRICES MAY 10: Closed up 0.61% following crude oil prices

The rubber prices closed higher by 0.61% or 1.10 points to a level of 180.00 Yen/kg after opening with a slight decline of 0.06% or 0.10 points at 178.80 Yen/kg in early trading.

The firming rubber prices during the closing of today's trade are in line with increases in the price of crude.

The price of June WTI futures was observed to increase by 0.30% to US$43.57/ barrel at 2:59 PM Western Indonesian Time, while the European benchmark Brent oil for July contracts was also seen to increase by 0.69% to US$43.93/barrel.

Earlier in early morning trading, the price of rubber had opened lower following the decline in the price of crude due to diminishing concerns about the impact of the forest fires in Canada, which had been overshadowed by the high supply levels in the US.