SINGAPORE, June 12 (Reuters) – China struck deals to buy Indonesian rubber at $1.52 a kg for June shipment this week, suggesting the world’s largest consumer was still keen to buy on dips, regional dealers said on Friday.
The deals may come as a surprise to Indonesia-based dealers, who complained that China had turned its back on SIR20 after active buying earlier this year.
SIR20 is still the cheapest tyre grade compared with Thai RSS3 and Malaysia’s SMR20.

Source: Reuters

[Dow Jones] Tocom RSS3 rubber futures ends lower on fresh selling pressure, weak demand in cash market due to sliding U.S. dollar, traders say. “Crude oil above $72/barrel has failed to push up rubber prices because there isn”t any significant buying taking place in the physical market,” says trader in Tokyo. Benchmark Tocom RSS3 November rubber futures contract settles Y2.3 lower at Y168.6/kg. Traders put immediate resistance at Y170/kg. Sicom RSS3 July contract trading unchanged at 170.50 U.S. cents/kg.

Source: Dow Jones

[Dow Jones] Asian cash rubber prices steady amid thin trade due to tight supply. “The impact of wintering phase in Thailand is still there, and this is impinging on supply,” says trader in Singapore; adds it may take a few more weeks before rubber availability improves. Trading for prompt shipment is only small volumes due to limited supply, traders say. For a daily breakdown of cash prices for all rubber grades, keyword search ASIAN PHYSICAL RUBBER PRICES to see the item.

Source: Dow Jones

[Dow Jones] Tocom RSS3 rubber futures settle lower but manages to rise above Y170/kg again amid only limited impact of higher crude. “Speculative short selling is keeping rubber prices undervalued,” says executive at global trading company. Traders expect prices to recover in near term, put resistance at Y175/kg. Nymex light, sweet crude for July delivery trading 61 cents higher at $71.94/barrel. Benchmark Tocom November RSS3 rubber futures contract settles Y0.5 lower at Y170.9/kg, after trading between Y169.2/kg-Y172.9/kg.

Source: Dow Jones

[Dow Jones] Tocom rubber futures higher as crude oil prices rise to fresh seven-month high above $71/barrel, but profit-taking, sluggish buying in cash market, cap gains. “Higher crude oil is supportive but many investors are still short on rubber futures, which is preventing any significant rise in prices,” says Singapore-based trading executive. Prices may rise further during night session, says exporter in Malaysia. Traders put immediate resistance at Y175/kg. Benchmark Tocom November RSS3 rubber futures ends Y1.6 higher at Y171.4/kg.

Source: Dow Jones