BANGKOK, May 31 (Reuters) – Tokyo rubber futures edged higher on Tuesday on the back of firmer oil prices, but the upside was still capped by profit-taking as players remained cautious about recent rises, dealers said.
The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for November delivery rose 0.3 yen to settle at 390 yen ($4.817) per kg.
The most-active Shanghai rubber contract for September delivery rose 295 yuan to finish at 32,850 yuan ($5,067.113) per tonne.
“TOCOM sentiment improved and was still supported by firmer oil prices, but it seemed like players did not believe prices could rise much higher so they took profit,” one dealer said.
Brent rose above $115 a barrel on Tuesday as the dollar weakened against a basket of currencies on improved prospects of a bailout for debt-laden Greece. [O/R] <.DXY>
But the dollar on Tuesday gained against the yen to as much as 81.77 , making it more attractive to buy yen-denominated contracts on TOCOM.
TOCOM rubber was expected to stay firm this week as prices were likely to be trapped in a narrow range of 390 to 400 yen per kg on firm oil prices and limited supply on the physical market, traders said.
($1 = 80.955 Japanese yen)
($1 = 6.483 Chinese yuan)

Source: Reuters

BANGKOK, May 30 (Reuters) – Tokyo rubber futures ended slightly higher on Monday as sentiment improved after the benchmark broke above major resistance at 390 yen, but weaker oil prices and profit-taking capped gains, dealers said.
The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for November delivery rose 3.4 yen to settle at 390.4 yen ($4.832) per kg.
The most active Shanghai rubber contract for September delivery fell 195 yuan to settle at 32,555 yuan ($5,013.796) per tonne.
“Players continued to buy contracts after prices broke above 390 yen, but falling oil triggered stop-loss selling and dragged prices down,” one dealer said.
Brent crude fell below $115 a barrel on Monday, weighed down by expectations that OPEC’s oil output in May would come in higher than April. [O/R]
Dealers said TOCOM prices could rise further on Tuesday but prices would be trapped in a narrow range with 400 yen seen as a key resistance point.
($1 = 80.795 Japanese Yen)
($1 = 6.493 Chinese Renminbi)

Source: Reuters

BANGKOK, May 27 (Reuters) – Tokyo rubber futures retreated from a one-month high on Friday, dragged down by firmness in the yen, but limited supply still provided support, alllowing the benchmark contract to finish above the psychological level of 385 yen.
The November contract on the Tokyo Commodity Exchange <0#JRU:> fell 4.4 yen to settle at 387.0 yen ($4.758) per kg.
However, the most active Shanghai rubber contract for September delivery rose 60 yuan to finish at 32,750 yuan ($5,045.793) per tonne.
“Actually, rubber sentiment is still good, but today it was weighed down by the rising yen. However, it was still supported as oil prices remain firm and supply is still limited,” one dealer said.
The dollar tumbled broadly on Friday after weak U.S. economic data triggered stop-loss selling. The yen was at 80.90 yen per dollar by 0856 GMT. [USD/]
A stronger yen makes the dollar-based rubber commodity cheaper and usually encourages players to sell rubber futures to stop losses.
Brent crude rose on Friday, hovering above $115 a barrel, as a softer dollar and Middle East tensions tempered worries about demand triggered by euro zone debt concerns and weak U.S. economic data. [O/R]

For morning and afternoon prices at Thailand’s state-run central rubber market, click on .
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<0#STF:>
- Thai rubber futures <0#ARU:><0#ASR20:>
- All rubber news [RUB]
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($1 = 81.345 Japanese Yen) ($1 = 6.491 Chinese Renminbis)

Source: Reuters

BANGKOK, May 26 (Reuters) – Tokyo rubber futures rose to a one-month high on Thursday on the back of firmer oil prices and rising Shanghai rubber futures, but profit-taking limited the gains, dealers said.

The newly launched benchmark contract on the Tokyo Commodity Exchange <0#JRU:> for November delivery rose 2.5 yen to settle at 391.4 yen ($4.773) per kg. It rose as high as 392.2 yen, the highest since April 28.

“Players, as well as investment funds, resumed buying contracts again after seeing a rise in other commodities, while stronger Shanghai futures provided additional support,” said a Tokyo-based trader.

The most-active Shanghai rubber contract for September delivery rose 395 yuan to finish at 32,690 yuan ($5,033.933) per tonne.

Brent crude rose above $115 a barrel on Thursday due to a softer dollar and an unexpected drop in U.S. distillate stocks, which overshadowed gains in gasoline and crude inventories.

However, dealers said small players took profit when prices broke above 390 yen per kg, capping further rises.

Dealers said TOCOM rubber could rise further on Friday after finishing above the key resistance of 390 yen, but the rise was seen as capped, with players still cautious about recent rises.

For morning and afternoon prices at Thailand’s state-run central rubber market, click on .

For other physical rubber prices in Thailand, click on .

For more details on Indonesian and Malaysian prices click on and .

* Reuters Terminal users can see cash and futures rubber prices by double clicking on the codes in the brackets:

- Tokyo rubber futures — <0#JRU:>

- Central Japan rubber futures — <0#JRI:><0#JOS:>

- Shanghai rubber futures — <0#SNR:>

- Singapore rubber futures — <0#SRS:><0#SRU:>

<0#STF:>

- Thai rubber futures <0#ARU:><0#ASR20:>

- All rubber news

- Tokyo rubber report

- Shanghai rubber report

- Thailand rubber report

- Asian rubber report

- Indonesian rubber report

For Related News and other topics, double click on one of these codes: SPEED GUIDES

($1 = 82.000 Japanese Yen)

($1 = 6.494 Chinese Renminbis)

Source: Reuters

[Dow Jones] Tocom rubber futures settle 2.6% higher, tracking gains in Shanghai counterparts; rain in south Thailand this month has been curbing tapping, limiting supplies, even though the country is exiting the low-production season; Tocom prices are now lower than spot prices, a trader in south Thailand says, “so there may be some bargain hunting and short-covering in futures.” He tips more upside if the Y385/kg support holds. Benchmark October RSS3 settles Y9.9 higher at Y385.8/kg, near the intraday high of Y385.9/kg.

Source: Dow Jones