Rubber Prices March 31: Rubber Slides in Line With Crude

The commodity decreased by 0.68% or 1.20 points to the level of 176.30 yen per kilogram (kg) or Rp20,860.60 per kg at 11:14 Jakarta time. Previously, rubber also opened weaker by 0.06% at the level of 177.40 yen per kg.

Trader Yutaka Shoji in Tokyo Megumi Saito said the decline in oil market was the main factor that led rubber to decrease.

Recorded this month, futures increased by 13.5% to become the highest since December 2012 and made rubber enter the bullish market as the top exporters are reducing shipments.

West Texas Intermediate (WTI) oil for May contract plunged by 1.12% to US$37.89 per barrel, and Brent for May contract also declined by 0.76% to US$38.96 per barrel at 10:38 Jakarta time.

Thailand is still the largest producer and exporter, while China is the largest consumer.

Rubber Price Movement September 2016 Contract in TOCOM