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BANGKOK, Nov 21 (Reuters) Tokyo rubber futures ended 2.4
percent lower on Friday due to short-covering supported by
recovering oil prices and an easing yen.
* The key Tokyo Commodity Exchange rubber contract for April
delivery <0#JRU:> fell 3.4 yen per kg, or 2.4 percent, to settle
at 138.0 yen ($1.45) per kg.
It fell to an intra-day low of 127.6 yen, the lowest since
January 2005, before short-covering set in.
* The benchmark contract closed Thursday at 141.4 yen, down
by the 16 yen daily limit, as selling gained momentum on weaker
oil prices and a stronger yen.
* Oil rebounded above $50 a barrel from an early 3-1/2-year
trough on Friday, tracking Asian equities that bounced back on
rumours that China may cut interest rates later in the day.
It was at $49.52 per barrel at 0850 GMT.
* The yen was weaker at 95.22 per dollar, falling from a
three-week high against the dollar on Thursday.
* On the physical front, rubber prices fell in line with
TOCOM prices amid thin trade as buyers were on the sidelines,
waiting to buy on dips.
PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH THURSDAY
Grade Price Change
Thai RSS3 (Dec) $1.60/kg -$0.05
Thai RSS3 (Jan) $1.60/kg -$0.05
Thai STR20 (Dec) $1.60/kg -$0.05
Thai STR20 (Jan) $1.60/kg -$0.05
Malaysia SMR20 (Dec) $1.60/kg -$0.05
Malaysia SMR20 (Jan) $1.60/kg -$0.05
Indonesia SIR20 (Dec) $0.70/lb -$0.02
Indonesia SIR20 (Jan) $0.70/lb -$0.02
Thai USS3 48 baht/kg – 5 baht
Thai 60-percent latex (drums, Dec) $1,300/tonne unchanged
Thai 60-percent latex (bulk, Dec) $1,200/tonne unchanged
Source: Reuters