SINGAPORE, Feb 3 (Reuters) – Tokyo’s most active rubber
futures closed slightly higher after a volatile session on
Wednesday, while physical prices stayed firm on steady demand
ahead of the Chinese New Year break.
* TOCOM’s July 2010 contract ended at 284.9 yen per
kg, up 2.6 yen from the previous settlement. It traded as high as
287.5 yen but then slipped to a low of 281.3 yen before bargain
hunters resurfaced.
* “We saw profit taking when the market moved up to about 287
this morning. But I guess if speculators are still interested in
commodities, they will try to push prices up,” said a dealer in
Thailand’s southern city of Hat Yai.
“I think we are looking at the trading range of 280 to 290
yen,” he added.
* Thai RSS3 and STR20 was traded late on Tuesday at $3.04 a
kg for March shipment, with buying interest coming from tyre
makers and Chinese buyers before the Lunar New Year holidays in
mid-February. Indonesia’s SIR20 changed hands at $1.36 per pound.
* For details on physical prices, click on [ID:nSGE612035]
* Gold prices steadied on Wednesday after hitting their
highest level in almost two weeks the previous day, when
investors partly factored in expectations of strong U.S. jobs
data later this week. [GOL/]
* Shanghai copper rose 2.8 percent on Wednesday and London
metal extended gains, after the latest batch of positive U.S.
data, this time existing home sales, helped soothe jangled
investor nerves. [MET/L]
* Oil retreated towards $77 on Wednesday after posting its
biggest percentage gain in four months a day earlier, as rising
crude inventories in the United States dampened optimism of a
recovery in demand. [O/R]

Source: Reuters

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