[Dow Jones] Tocom rubber futures settle 2.0% higher, taking cues from higher crude-oil and Shanghai rubber; passage of a crucial package of austerity measures in Greece also boosts overall market sentiment. A veteran Bangkok-based trader says Tocom is taking cues from external markets in this volatile week. “Tocom will only move sideways in a wide Y20-Y30 range if there are no strong leads.” Benchmark December rubber settles Y7.2 higher at Y365/kg, off an intraday high of Y366.4/kg.

Source: Dow Jones

[Dow Jones] Asian physical rubber prices mostly rise due to gains on the bellwether Tocom. Thai offers are in a wide range with some exporters still refusing to back down from high prices. “The bids are too low. There are trades at lower levels but mostly done domestically in China by dealers there,” says a major Thailand-based exporter. However, another major exporter says that lower level trades are possible as raw material prices have come off recently. Thailand”s RSS3 is sold at $4,420/ton, ex-warehouse in China; STR20 changes hands around $4,380/ton, ex-warehouse.

Source: Dow Jones

[Dow Jones] Tocom rubber futures settle 3.0% higher; the overall market Wednesday is higher on growing optimism for a viable solution to Greece”s debt crisis; strong industrial production data from Japan also support. A Thailand-based trader says Tocom may gain further on short-covering if prices push through and stay firmly above the Y358-Y359/kg resistance level. ANRPC said Tuesday that supply may stay slow this year, with the post-wintering rise in output below expectations. However, demand concerns also weigh; participants say natural rubber prices may continue to be volatile until clear cues emerge. Benchmark December rubber settles Y10.5 higher at Y357.8/kg, near an intraday high of Y358.2/kg.

Source: Dow Jones

BANGKOK, June 28 (Reuters) – Tokyo rubber futures ended higher on Tuesday, supported by firmer oil prices, which helped overshadow worries over Greece’s debt problems, but gains were still limited by rising supply in major producing countries, dealers said.

The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for December delivery rose 2.3 yen to settle at 347.3 yen ($4.293) per kg.

The most active Shanghai rubber contract for September delivery fell 25 yuan to finish at 30,700 yuan ($4,735) per tonne.

“Firmer oil helped support TOCOM prices, but they lacked momentum to rise further as players knew that supply was rising,” one dealer said.

Brent traded above $107 a barrel by 0732 GMT on Tuesday, rising for a second session.

Traders said TOCOM could ease further on Wednesday, weighed down by rising supply in Thailand, the world’s biggest rubber producer.

The heavy rain that hit Thailand for weeks has now stopped, allowing farmers to tap more latex, so supply is likely to rise gradually.

However, dealers said they did not expect TOCOM prices to fall sharply as the relatively firm oil prices should provide support, while lower prices may attract speculative demand.

($1 = 80.890 Japanese Yen)

($1 = 6.483 Chinese Renminbi)

Source: Reuters

BANGKOK, June 27 (Reuters) – Tokyo rubber futures tumbled to 3-1/2 month low on Monday, weighed by rising supply in major producing countries and concerns about Europe’s debt, which has triggered a broad sell-off in commodities, dealers said.

The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for December delivery fell 8 yen, or 2.3 percent, from the opening prices to settle at 345.0 yen ($4.289) per kg.

It fell as low as 344.0 yen, the lowest since mid-March.

The front-month June contract expired on Friday and deliveries against the June rubber futures contract fell 39 percent from May to 146 lots or 730 tonnes.

The most-active Shanghai rubber contract for September delivery fell 1,425 yuan to finish at 30,725 yuan ($4,745.169)per tonne.

“Rubber could fall gradually due to rising supply in Thailand, but we have another big negative factor of Europe debt concerns that dragged TOCOM prices down deeper than expected,” one dealer said.

Greece’s parliament begins on Monday to debate a deeply unpopular austerity plan which international lenders are demanding to see approved this week to avert the threat of bankruptcy.

Rubber supply in Thailand, the world’s biggest rubber producer and exporter, was expected to rise further in July as rains stopped and allowed farmers to tap more latex, said a trader in Thailand’s southern Hat Yai rubber centre.

However, traders said they expected TOCOM prices to rebound on Tuesday, expecting prices to find a strong support level at around 340 yen, while demand on the physical front should lend support.

($1 = 80.430 Japanese Yen)

($1 = 6.475 Chinese Renminbi)

Source: Reuters