TOKYO, Nov 14 (Reuters) – Tokyo rubber futures rose close to
5 percent on Friday, bouncing back from a three-day losing streak
thanks to a rise in oil prices and a softer yen, although the key
contract failed to break above 180 yen.
* The key Tokyo Commodity Exchange rubber contract for April
delivery <0#JRU:> rose to a morning session high of 179.3 yen per
kg, up 8 yen or 4.7 percent, before closing the first session at
176.3 yen.
* The benchmark has recovered about half the 10 percent it
lost in a three-day losing streak that began on Tuesday.
* The strong yen is weighing on TOCOM rubber prices, a
Tokyo-based broker said.
* Prices have been locked in a band of 150-210 yen since
mid-October.
* “It’s been a cycle of profit-taking and buying back …
that I don’t see ending anytime soon,” he said.
* TOCOM futures prices have fallen, pressured by the global
economic crisis and bleak news about the auto industry, but
physical prices have been supported by the fundamental supply
tightness of the commodity needed to produce tyres.
* U.S. crude oil futures briefly rose more than $1 to top $59
a barrel after prices jumped nearly 4 percent on Thursday as OPEC
seemed poised to cut production again later this month. [O/R]
* The dollar eased 0.6 percent to 97.11 yen after a
sharp rise the previous day. [USD/]
* Toyota Motor Corp <7203.T>, faced with a deep slump in the
U.S. auto market, is considering postponing plans to start
production at a plant it is building in Mississippi until 2011 or
later, the Nikkei business daily reported. [ID:nT271517]

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH THURSDAY
Grade Price Change
Thai RSS3 (Dec) $1.85/kg -$0.05
Thai RSS3 (Jan) $1.85/kg -$0.05
Thai STR20 (Dec) $1.85/kg unchanged
Thai STR20 (Jan) $1.85/kg unchanged
Malaysia SMR20 (Dec) $1.80/kg -$0.05
Malaysia SMR20 (Jan) $1.80/kg -$0.05
Indonesia SIR20 (Dec) $0.80/lb -$0.04
Indonesia SIR20 (Jan) $0.80/lb -$0.04
Thai USS3 59 baht/kg – 3 baht
Thai 60-percent latex (drums, Dec) $1,450/tonne -$50
Thai 60-percent latex (bulk, Dec) $1,300/tonne -$50

Source:  Reuters

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