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BANGKOK, Nov 25 (Reuters) – Tokyo rubber futures ended down
10 percent on Tuesday as weaker oil prices encouraged investment
funds to take stop-loss selling positions.
* The newly listed contract on the Tokyo Commodity Exchange
<0#JRU:> for May delivery fell 15.2 yen, or 10 percent, from its
opening price to settle 132.8 yen ($1.37) per kg.
It fell as low as 132.5 yen as funds sold contracts after
seeing oil prices retreat, dealers said.
* Oil slipped back towards $53 a barrel on Tuesday, chipping
away at a near 10 percent rally after a rebound in equities and
expectations of another OPEC cut helped the market to record its
biggest two-day gain in two months.
* A meeting of the world’s top rubber producers in Bangkok
this week to look at ways to lift prices also lent some support
to TOCOM prices, but dealers said rises were expected to be
capped if oil prices reversed gains.
* In the physical market, rubber prices were quoted lower due
to thin demand, traders said.
PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH FRIDAY
Grade Price Change
Thai RSS3 (Jan) $1.50/kg -$0.10
Thai RSS3 (Feb) $1.50/kg n/a
Thai STR20 (Jan) $1.50/kg -$0.10
Thai STR20 (Feb) $1.50/kg n/a
Malaysia SMR20 (Jan) $1.50/kg -$0.10
Malaysia SMR20 (Feb) $1.50/kg n/a
Indonesia SIR20 (Jan) $0.66/lb -$0.04
Indonesia SIR20 (Feb) $0.66/lb n/a
Thai USS3 44 baht/kg – 4 baht
Thai 60-percent latex (drums, Jan) $1,200/tonne n/a
Thai 60-percent latex (bulk, Jan) $1,100/tonne n/a
** 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.
($1=96.79 Yen)
($1=35.21 baht)
Source: Reuters