Tokyo, March 17 (Jiji Press)–Rubber futures on the Tokyo Commodity Exchange remained at
moderately higher ground Tuesday afternoon.
The benchmark, most distant August 2009 contract rose 2.2 yen from Monday to 138.9 yen per
kilogram at 3:45 p.m. Contracts from March to July were 0.5-2.3 yen higher.
Rubber futures got off to a firm start, attracting bulls’ buying amid rebounds in crude oil and oil
products futures. Further gains were blocked after the opening in the absence of fresh incentives.
Prices fluctuated in a tight range in the afternoon session.

Source: Jiji Press

TOKYO, March 16 (Reuters) – Key Tokyo rubber futures were nearly flat on Monday, recovering earlier losses made on a slump in oil prices, but activity was subdued as players awaited fresh news.
* With demand staying weak, traders said they were tracking other markets such as oil and stocks for direction. The wintering dry season has lent support to the market as it tightens supply.
* The key Tokyo Commodity Exchange rubber contract for August delivery <0#JRU:> ended up 0.2 yen at 136.7 yen per kg, after trading in a narrow range between 134.8 yen and 138.5 yen.
* “We are waiting for new factors,” said a Singapore-based trader, adding that the futures market lacked direction along with the physical market, and it was seeking clues from oil prices. “Global demand is weak so I expect the market to remain like this,” the trader said of futures prices being stuck in narrow ranges.
* In the latest wave of suspensions brought on by plummeting demand as economic woes hit consumer spending, Toyota Motor Corp <7203.T> said on Friday it would halt production at its Russian factory between March 30 and April 6. [ID:nLD653601]
* The world’s top three rubber producing countries, which have agreed to reduce exports this year, are set to meet the Chinese rubber association on Tuesday in Guangzhou, China, to look for ways to cooperate to stabilise prices and avoid defaults. [ID:nBKK441546]
* Oil fell more than 3 percent on Monday to below $45 a barrel, as traders questioned whether OPEC’s decision to enforce better compliance with previous curbs rather than make new production cuts was enough to offset falling global demand. [O/R]
* OPEC ministers agreed on Sunday to leave existing output targets unchanged, but promised to enforce those curbs more strictly. They said they would meet again at the end of May to review progress. [ID:nLF35711]
* The dollar rose broadly on Monday, driven largely by technical trading after it bounced from the day’s lows. A weaker yen helps support the rubber market as it inflates yen-based futures prices. [USD/]
* Trading was subdued in the physical market, keeping prices unchanged from Friday.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH FRIDAY
Grade Price Change
Thai RSS3 (Apr) $1.44/kg unchanged
Thai RSS3 (May) $1.44/kg unchanged
Thai STR20 (Apr) $1.37/kg unchanged
Thai STR20 (May) $1.37/kg unchanged
Malaysia SMR20 (Apr) $1.37/kg unchanged
Malaysia SMR20 (May) $1.37/kg unchanged
Indonesia SIR20 (Apr) $0.56/lb unchanged
Indonesia SIR20 (May) $0.56/lb unchanged
Thai USS3 45 baht/kg unchanged
Thai 60-percent latex (drums, Apr) $1,300/tonne unchanged
Thai 60-percent latex (bulk, Apr) $1,200/tonne unchanged

Source: Reuters

Tokyo, March 13 (Jiji Press)–Rubber futures on the Tokyo Commodity Exchange maintained
strength on buybacks Friday afternoon.
The benchmark, most distant August 2009 contract traded at 137.6 yen per kilogram at 3:45 p.m.,
up 4.1 yen from the previous day. Contracts from March to July were 3.1-4.0 yen higher.
Rubber futures turned upward at the opening, attracting short covering and fresh buying on the
back of gains in oil and gold futures. Sentiment continued firm for the rest of the morning
session. Further gains were checked in the afternoon, however.

Source: Jiji Press

TOKYO, March 13 (Reuters) – Tokyo rubber futures rose on Friday as a rally in equities and oil markets eased concerns about demand.
* Futures prices have been caught in a range between 125 and 145 yen recently as global automakers slash production, resulting in slackening tyre demand, while producers have resisted cutting prices below $1.35 per tonne as agreed late last year.
* The key Tokyo Commodity Exchange rubber contract for August delivery <0#JRU:> ended at 136.5 yen per kg, up 3 yen or 2.2 percent from the previous close. Futures rose as high as 141.2 yen, up nearly 6 percent.
* Oil fell but stayed above $46 a barrel ahead of a weekend OPEC meeting and a more than 11 percent jumped the previous day, helped by better-than-expected U.S. February retail sales data. [O/R]
* “Speculative activity could test either the upside or downside of the recent price range. The driver will be technical charts, not fundamentals,” said a manager at a Tokyo trading firm.
* The world’s top three rubber producing countries, which have agreed to reduce exports this year, are set to meet the Chinese rubber association on March 17 in Guangzhou, China, to look for ways to cooperate to stabilise prices and avoid defaults. [ID:nBKK441546]
* But traders said expectations for the meeting were low as Indonesia, the No.2 producer, failed to meet the top three rubber producers’ agreement late last year not to sell rubber below $1.35 per kg, or $0.60-0.61 per pound.
* Tokyo’s Nikkei share average <.N225> jumped more than 5 percent on Friday following the lead of Wall Street, which rose thanks to stabilising retail sales and after Bank of America reported a return to profit. [.T]
* The euro and the dollar held on to strong gains against the Swiss franc on Friday, after the Swiss National Bank said it was intervening in the foreign exchange market in the face of a growing risk of deflation. [USD/]
* In the physical market, prices were mostly unchanged on Friday as activity slowed after buying by China, the world’s biggest consumer, petered out.

Source: Reuters

Tokyo, March 12 (Jiji Press)–Rubber futures on the Tokyo Commodity Exchange hovered at
lower ground amid long liquidation Thursday afternoon.
The benchmark, most distant August 2009 contract fell 3.5 yen from Wednesday to 134 yen per
kilogram at 3:45 p.m. Contracts from March to July were 3.0-4.6 yen lower.
Long liquidation was dominant at the opening following declines in oil and precious metals
futures and the yen’s climb against the dollar. Rubber futures resisted further declines after the
opening. But active buying was held in check toward the morning close. The March contract was
the sole gainer at the morning close. But all contracts slipped into minus territory in the afternoon
as selling became dominant.

Source: Jiji Press