SINGAPORE, Oct 31 (Reuters) – Tokyo rubber futures ended 3.9
percent lower on Friday as a firm yen and a sell-off in other
commodities prompted investors to lock in profits after a two-day
rally.
* News that the world’s main producing countries planned to
cut 215,000 tonnes of output next year had little impact on the
market, which has lost nearly half of its value since hitting a
28-year peak above 350 yen in June.
* The benchmark rubber contract on the Tokyo Commodity
Exchange <0#JRU:> for April delivery ended 7.4 yen per kg lower
at 182.5 yen ($1.88), having hit an intraday low of 174.7 yen on
the back of declines in other commodities and weaker equities.
* The price of copper, seen as a key gauge of real economic
activity, tumbled nearly 6 percent on fears of falling demand.
The Reuters-Jeffries CRB Index <.CRB>, a global benchmark of 19
commodities, fell around 23 percent in October so far, also set
for its largest monthly decline ever.
* Thailand, Indonesia and Malaysia have agreed to cut their
total output by 215,000 tonnes next year by cutting down and
replanting up to 160,000 hectares of rubber next year to trim
supply in the near term. [ID:nBKK387168]
* Earlier this week, the TOCOM rubber market took a hit as
investors fled riskier assets, sending rubber down to 153.4 yen,
the lowest level since July 2005. A U.S. interest rate cut calmed
investors’ nerves, albeit briefly.
* The Nikkei average slid 5 percent on Friday, capping its
worst month ever, as investors dumped stocks at the last minute
on caution before a three-day weekend, with little impact felt
from a rate cut by the Bank of Japan. [.T]
* Slowing economies around the globe and the credit crisis
have caused big car industry companies to slash full-year profit
targets, warn of job losses and push for speedy government
handouts. On Thursday, Japan’s Mazda Motor Corp <7261.T> and
Mitsubishi Motors Corp <7211.T> lowered their profit forecasts.
[ID:nLU0100746]
* In the physical market, rubber was quoted lower in thin
trade on Friday, with buyers bargaining for lower prices while
producers were reluctant to sell at cheap prices.
* Indonesia’s tyre grade SIR20 was traded late on T0hursday
at 82 U.S. cents/pound ($1.80 a kg) FOB Belawan and Surabaya for
December shipment.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH THURSDAY
Grade Price Change
Thai RSS3 (Dec) $1.85/kg -$0.02
Thai RSS3 (Jan) $1.85/kg -$0.02
Thai STR20 (Dec) $1.83/kg -$0.02
Thai STR20 (Jan) $1.83/kg -$0.02
Malaysia SMR20 (Dec) $1.85/kg -$0.02
Malaysia SMR20 (Jan) $1.85/kg -$0.02
Indonesia SIR20 (Dec) $0.80/lb -$0.03
Indonesia SIR20 (Jan) $0.80/lb -$0.03
Thai USS3 57 baht/kg unchanged
Thai 60-percent latex (drums, Dec) $1,450/tonne +$50
Thai 60-percent latex (bulk, Dec) $1,350/tonne +$50
($1=35.02 baht)
($1=97.21 Yen)

Source:  Reuters

BANGKOK, Oct 30 (Reuters) – Tokyo rubber futures rose by their
16 yen daily limit to a near one-week high on Thursday, supported
by a rally in Japanese shares and a U.S. interest rate cut that
helped ease fears that a global recession would hit rubber
demand.
* The most active April 2009 contract on the Tokyo Commodity
Exchange <0#JRU:> rose 16.0 yen, or 9.2 percent, to settle at
189.9 yen ($1.93), the highest since Oct. 24.
Despite rising nearly 10 percent on Thursday, rubber is down
24 percent so far this month, tracking the trend in global stock
markets which have been under pressure due to recession concerns.
* Earlier this week, the TOCOM rubber market reached its
lowest level since July 2005 as investors abandoned riskier
assets amid heightened credit concerns.
* On Wednesday, the United States and China kicked off what
is likely to be a global round of interest rate cuts, part of a
barrage of measures deployed around the world to fight a deep
economic slowdown. [ID:nLT458286]
* Tokyo’s benchmark Nikkei average <.N225> extended early
gains, rising as much as 9.96 percent on Wednesday.
* Oil was another supportive factor for rubber. U.S. crude
futures jumped more than 2 percent to above $69.50 a
barrel, bolstered by a weaker dollar after the U.S. rate cut. It
slipped lower to $69.04 a barrel at 0842 GMT. [O/R]
* French tyre maker Michelin cut its full year
operating margin target on Wednesday and said the group noted a
sharper drop in demand in European and North American markets.
[ID:nL572480]
* The European Automobile Manufacturers Association said on
Wednesday the industry would suffer a further drop in sales in
the fourth quarter after a 10 percent decline in the third
quarter. [ID:nLT196213]
* On the physical front, rubber prices rose further in line
with TOCOM amid busier trading as tyremakers sought rubber before
prices rose much higher, traders said.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH WEDNESDAY
Grade Price Change
Thai RSS3 (Dec) $1.87/kg +$0.07
Thai RSS3 (Jan) $1.87/kg +$0.07
Thai STR20 (Dec) $1.85/kg +$0.05
Thai STR20 (Jan) $1.85/kg +$0.05
Malaysia SMR20 (Dec) $1.87/kg +$0.07
Malaysia SMR20 (Jan) $1.87/kg +$0.07
Indonesia SIR20 (Dec) $0.83/lb +$0.05
Indonesia SIR20 (Jan) $0.83/lb +$0.05
Thai USS3 57 baht/kg unchanged
Thai 60-percent latex (drums, Dec) $1,400/tonne +$100
Thai 60-percent latex (bulk, Dec) $1,300/tonne +$100
($1=34.75 baht)
($1=95.58 YEN)

Source:  Reuters

Tocom rubber futures settle higher, helped primarily by firmer crude oil, weaker yen vs dollar, says trader in Tokyo; adds potential for heavy volatility remains due to weak longer-term fundamentals. Tocom expected to consolidate in wide Y160-Y190 range in coming sessions though “I still wouldn”t rule out a test below Y150/kg, if the market doesn”t show signs of a proper recovery soon,” trader says. Benchmark Apr RSS3 contract settles Y7.4 higher at Y173.9/kg. (ANJ)

Source:  Reuters

BANGKOK, Oct 28 (Reuters) – Tokyo rubber futures ended higher
in volatile trade on Tuesday, bouncing back from a three-year low
in early trade on the back of rising oil prices and the weaker
yen.
* The April 2009 contract on the Tokyo Commodity Exchange
<0#JRU:> rose 4 yen, or 2.4 percent, to settle at 166.5 yen
($1.76) per kg.
* It rebounded from an intra-day low of 153.4 yen, the lowest
since June 2005, to hit a high of 177.2 yen as oil rallied to
above $64 a barrel.
* The yen pulled away from a 13-year high against the dollar
on Tuesday as a 6 percent surge in Tokyo shares and growing
caution about the possibility of official intervention halted the
Japanese currency’s surge.
* A weaker yen makes a dollar-based commodity, including
rubber, expensive and usually spurs investors into speculative
buying on the Tokyo rubber futures market.
* “But TOCOM gains were expected to be capped by
profit-taking,” one dealer said.
* The Agriculture Ministry of Thailand, the world’s biggest
rubber producer, said on Monday it planned to cut production by
700,000 tonnes in the six months starting from October to shore
up prices. [ID:nBKK391607]
However, that news had little impact on the TOCOM market.
* On the physical front, rubber prices fell due to fears of
falling demand. However, the falls were expected to be limited as
falling supply in producing countries should provide some
support, traders said.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH MONDAY
Grade Price Change
Thai RSS3 (Dec) $1.75/kg -$0.10
Thai RSS3 (Jan) $1.75/kg -$0.10
Thai STR20 (Dec) $1.75/kg -$0.10
Thai STR20 (Jan) $1.75/kg -$0.10
Malaysia SMR20 (Dec) $1.75/kg -$0.10
Malaysia SMR20 (Jan) $1.75/kg -$0.10
Indonesia SIR20 (Dec) $0.74/lb -$0.07
Indonesia SIR20 (Jan) $0.74/lb -$0.07
Thai USS3 57 baht/kg -2 baht
Thai 60-percent latex (drums, Dec) $1,400/tonne unchanged
Thai 60-percent latex (bulk, Dec) $1,250/tonne unchanged
($1=34.92 baht)
($1=94.39 Yen)

Source:  Reuters

TOKYO/BANGKOK, Oct 27 (Reuters) – Key Tokyo rubber futures contract fell by the daily 16 yen limit for a second straight day on Monday, hitting the lowest level for any benchmark since July 2005, as falling stock markets deepened concerns about demand.
The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for March 2009 delivery closed limit-down at 159.2 yen per kg, or down 9.1 percent from the previous close.
The nearby October contract expired earlier in the day at 161.1 yen per kg, down 19.5 yen from Friday close. It was the lowest expiry since May 2005. [ID:nT101278]
The TOCOM market took a hit also because of a sell-off in oil and other commodities and the stronger yen, traders said.
“Stocks are down, other commodities are down, and the dollar is also down. Given all these at once, I don’t see any reason to buy rubber,” said a senior manager at a Tokyo-based commodity brokerage.
“Technically, there is no solid support down until around 120 yen,” he said.
Thailand, the world’s biggest rubber producer, plans to cut production by 700,000 tonnes in the six months starting from October, to shore up prices, the Agriculture Ministry said on Monday. [ID:nBKK391607]
But the news was largely shrugged off in the face of a slew of news recently about a slump in the auto sector.
“The move in Thailand is aimed to keep raw material prices from falling for the sake of farmers. But prices will not stop falling unless demand recovers,” the senior manager in Tokyo said.
Underlining concerns about global demand, oil dropped 3 percent to another 17-month low on Monday. [O/R]
The yen stayed near a 13-year peak against the dollar and climbed toward an all-time high against the Australian dollar as investors repatriated from risky positions and drove Tokyo shares to a 26-year low, overshadowing a G7 warning about excessive yen volatility. [USD/]
A stronger yen deflates yen-based TOCOM futures prices.
On the physical front, rubber prices were mostly unchanged as falling supply offset falls on TOCOM.
Physical trade remained thin on Monday as Singapore, the regional rubber trading centre, was closed for a public holiday. Trading will resume on Tuesday.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH FRIDAY
Grade Price Change
Thai RSS3 (Dec) $1.85/kg unchanged
Thai RSS3 (Jan) $1.85/kg unchanged
Thai STR20 (Dec) $1.85/kg unchanged
Thai STR20 (Jan) $1.85/kg unchanged
Malaysia SMR20 (Dec) $1.85/kg unchanged
Malaysia SMR20 (Jan) $1.85/kg unchanged
Indonesia SIR20 (Dec) $0.81/lb -$0.01
Indonesia SIR20 (Jan) $0.81/lb -$0.01
Thai USS3 59 baht/kg unchanged
Thai 60-percent latex (drums, Dec) $1,400/tonne unchanged
Thai 60-percent latex (bulk, Dec) $1,250/tonne unchanged ($1=34.63 baht) ($1=93.80 Yen)

Source:  Reuters