[Dow Jones] Tocom rubber futures end midday up on slightly firmer crude oil, bullish spot market prices due to rain-induced tapping disruptions in Thailand, Malaysia, says trader; adds upside likely to remain limited, with Tocom expected to find resistance at Y305/kg; without fresh leads market will continue to be driven primarily by outside factors, like movements in other commodities. Benchmark February RSS3 contract ends midday Y1.1 higher at Y302.7/kg. (ANJ)

Source:  Dow Jones Newswires

Tocom rubber futures settle marginally lower in very thin, rangebound trade; market now in need of fresh incentives, says trader in Tokyo. Adds slightly weaker crude prices also seen as bearish factor for rubber. Market holding above Y300/kg psychological support may help bolster sentiment in near term, though that level not seen as strong support; breakthrough, test of Y290/kg possible in coming sessions. Benchmark February RSS3 contract settles Y0.2 lower at Y301.6/kg. (ANJ)

Source:  Dow Jones Newswires

TOKYO, Sept 11 (Reuters) – Japan’s crude rubber inventories
fell 4.3 percent to 5,920 tonnes in the 10 days to Aug. 29, data
compiled by the Rubber Trade Association of Japan showed on
Thursday.
Inventories were down 39.7 percent from 9,819 tonnes a year
earlier.
Following are details of the association’s latest data:
Aug 29 Aug 20 Aug 10 Jul 31 Jul 20
Crude rubber 5,920 6,187 6,361 6,820 7,788
Natural Latex 203 233 189 196 176
Synthetic
(solid) 2,511 2,275 2,294 2,585 2,758
Synthetic Latices
(D.R.C.) 23 23 23 23 23

Source:  Reuters

TOKYO, Sept 10 (Reuters) – Tokyo rubber futures dropped on Wednesday but held above a three-week low as a rebound in crude oil and growing wariness over supplies in key producing countries spurred short-covering.

* The key Tokyo Commodity Exchange rubber contract for February delivery <0#JRU:> closed 5.0 yen, or 1.6 percent, lower at 301.8 yen per kg. In the morning session, it fell as far as 299.5 yen per kg — the lowest since Aug. 21.
* The market was watching whether it would break below a low of 295.7 yen hit on Aug. 19. A downtrend could accelerate if that level is broken, which may pave the way for the key contract to drop to this year’s low of 266.1 yen reached on March 21.
* “Crude oil prices are mainly driving rubber prices now. Falls in TOCOM prices will be limited as the market is in deep backwardation,” said Shuji Sugata, manager at Mitsubishi Corp Futures and Securities Ltd.
* Solid Asian physical rubber prices, due partly to supply concerns from heavy rain in Thailand and Malaysia as well as the emergence of the dry season in parts of Indonesia, supported TOCOM prices.
* Oil jumped more than $1 to near $105 a barrel, rebounding from a five-month low after OPEC agreed a small but unexpected production cut that some analysts said showed their resolve to keep prices above $100. [O/R]
PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH TUESDAY
Grade Price Change
Thai RSS3 (Oct) $2.98/kg unchanged
Thai RSS3 (Nov) $2.98/kg unchanged
Thai STR20 (Oct) $2.95/kg -$0.03
Thai STR20 (Nov) $2.95/kg -$0.03
Malaysia SMR20 (Oct) $2.95/kg unchanged
Malaysia SMR20 (Nov) $2.95/kg unchanged
Indonesia SIR20 (Oct) $1.31/lb unchanged
Indonesia SIR20 (Nov) $1.31/lb unchanged
Thai USS3 94 baht/kg -1 baht
Thai 60-percent latex (drums, Oct) $2,000/tonne -$40
Thai 60-percent latex (bulk, Oct) $1,850/tonne -$50 (Reporting by Chikafumi Hodo, Editing by Jacqueline Wong)
((chikafumi.hodo@thomsonreuters.com; +81-3-6441-1855; Reuters Messaging: chikafumi.hodo.reuters.com@reuters.net)) ** NOTE – The prices quoted above are offer prices collected from traders in Thailand, Indonesia and Malaysia. They are not official prices quoted by state-run rubber agencies in those countries

Source:  Reuters

TOKYO, Sept 9 (Reuters) – Tokyo rubber futures slipped 2.6
percent on Tuesday as widespread selling of commodities,
including a 1 percent fall in oil prices, spurred profit-taking
after rubber’s strong gains the previous session.

* Still, prices were supported due to delays in Thai physical
rubber shipments caused by rail strikes amid anti-government
protests and unseasonable rain in southern Thailand, which also
disrupted tapping.

* “Rubber has been pushed down along with other commodities,
but fundamentally the market is not that bad because we are
seeing fewer supplies since last week due to rain,” said a trader
in the rubber centre of Thailand’s Hat Yai.

* The key rubber contract on the Tokyo Commodity Exchange
<0#JRU:> for February delivery was down 7.9 yen, or 2.6 percent,
at 306.0 yen per kg.

* “There is an important chart point at around 306 yen. A
fall below that would hurt the technical trend and accelerate
selling pressure,” said Jun Nishimuta, analyst at Kanetsu Asset
Management in Tokyo.
The 200-day moving average was seen at 307.0 yen.

* U.S. crude futures fell more than $1 on Tuesday as traders
shed their commodity positions to join the rally in the dollar,
which hit a one-year peak against a basket of other currencies in
Monday’s session. [nSEO276417]

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH MONDAY
Grade Price Change
Thai RSS3 (Oct) $2.98/kg -$0.02
Thai RSS3 (Nov) $2.98/kg -$0.02
Thai STR20 (Oct) $2.98/kg unchanged
Thai STR20 (Nov) $2.98/kg unchanged
Malaysia SMR20 (Oct) $2.95/kg -$0.03
Malaysia SMR20 (Nov) $2.95/kg -$0.03
Indonesia SIR20 (Oct) $1.31/lb -$0.02
Indonesia SIR20 (Nov) $1.31/lb -$0.02
Thai USS3 95 baht/kg -1 baht
Thai 60-percent latex (drums, Oct) $2,040/tonne -$10
Thai 60-percent latex (bulk, Oct) $1,900/tonne unchanged
(Reporting by Chikafumi Hodo; Editing by Hugh Lawson)
((chikafumi.hodo@thomsonreuters.com; +81-3-6441-1855; Reuters
Messaging: chikafumi.hodo.reuters.com@reuters.net))

** NOTE – The prices quoted above are offer prices collected
from traders in Thailand, Indonesia and Malaysia. They are not
official prices quoted by state-run rubber agencies in those
countries.

Source:  Reuters