BANGKOK, Nov 26 (Reuters) – Tokyo rubber futures ended higher
on Thursday, supported by firmer oil prices, bu profit-taking
capped gains, dealers said.
* The benchmark rubber contract on the Tokyo Commodity
Exchange <0#JRU:> for May delivery rose 1.2 yen to settle at
253.1 yen ($2.90) per kg after hitting a 13-month high of 255.3
yen per kg.
* “Rubber prices remained firm as oil prices lent support,
but prices lacked the momentum to rise sharply as players took
profits,” one dealer said.
* Oil was steady above $77 a barrel on Thursday in
holiday-thinned trade, after rising 2 percent the previous day,
buoyed by the dollar’s sharp fall and a lower-than-expected build
in U.S. crude inventories. [ID:nSIN77260]
* In theory, high oil prices push up the price of an
alternative petrochemical product, synthetic rubber, and
encourage users to shift to natural rubber.
($1=87.32 Yen)

Source: Reuters

[Dow Jones] Tocom RSS3 rubber futures settle higher as investors set up long positions, taking leads from gains in crude oil, gold. “Prices are moving up in one straight line upwards. All this is uncharted territory for more than a year now, making it difficult to pinpoint technical resistance,” says analyst in Singapore. Prices may rise above Y260/kg in next few days, says Tokyo-based broker. Benchmark Tocom May contract settles Y1.2 higher at Y253.1/kg after reaching intraday high of Y255.3/kg, level not seen since October last year. (SAM)

Source: Dow Jones

[Dow Jones] Tocom rubber futures settle higher, recovering from early decline, with new benchmark May contract settling above Y250/kg, as dip buying emerges, helped by slightly firmer crude oil prices during Asian trading hours. Further upside expected, with rubber futures likely to continue finding support from tight supply in coming sessions. New benchmark May RSS3 contract settles at Y251.9/kg, up Y3.4 from opening. (ANJ)

Source: Dow Jones

BANGKOK, Nov 25 (Reuters) – Tokyo rubber futures recovered from early losses, tracking a recovery in oil prices, while falling supply in producing countries encouraged players to take speculative buying positions, dealers said on Wednesday.
* The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> — for May delivery from Wednesday — rose 3.4 yen from an opening price of 248.5 yen to settle at 251.9 yen ($2.85) per kg. * “Players took speculative buying positions after seeing a rebound in oil prices,” one dealer said.
* In theory, high oil prices make an alternative petrochemical product, synthetic rubber, expensive, and usually encourage users to shift to natural rubber.
* Oil rebounded above $76 a barrel on Wednesday, after falling 2 percent a day earlier on disappointing U.S. growth and data showing a big build in crude inventories, signalling weak demand in the world’s top energy user. [ID:nSIN418570]
* Falling supply caused by monsoon rains in Thailand, the biggest producer, and dry weather in Indonesia, the second biggest, still supported TOCOM prices, traders said.
* TOCOM prices were expected to rise further on Thursday as technical sentiment improved after prices broke above the key psychological level of 250 yen per kg, they said. ($1=88.34 Yen)

Source: Reuters

[Dow Jones] Tocom RSS3 rubber futures settle higher as investors scramble to set up long positions due to bullish outlook amid heavy rains in rubber growing regions, gains in other commodities. Since Tocom was closed yesterday, sharp rise in prices was expected today, to catch up with other rubber trading bourses, says exporter in Singapore. “The rise in Shanghai rubber futures and global gold prices are among the reasons pushing up the Tocom (rubber) market,” says broker in Tokyo. Most traders put immediate resistance at Y250/kg. Benchmark Tocom April contract settles Y4.1 higher at Y247.5/kg after reaching intraday high of Y250/kg, level not seen since October last year. (SAM)

Source: Dow Jones