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Rubber climbs to 2-month high

12th December 2013

Rubber has reached a two-month high in commodities markets today (December 12th), following the release of data from China. 

The country is the world's largest purchaser of the produce and it has been suggested the credit figures are a signal demand is set to increase.

According to a report published by the People's Bank of China, 624.6 billion yuan of new loans were issued last month, beating estimates for a result of 580 billion.

Imports of natural rubber and latex into the country increased to 270,000 tonnes in November, data from the General Administration of Customs has shown. This is a record high and comes as passenger-vehicle sales advanced by 16 per cent. 

Rubber for May delivery climbed by 1.6 per cent on the Tokyo Commodity Exchange to close at 284.1 yen per kilogramme, equivalent to $2,767 per metric tonne. 

This rally has gone some way to cutting the contract's losses over the course of the year, which have now been trimmed to 6.1 per cent.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.