BANGKOK, July 29 (Reuters) – Tokyo rubber futures ended 1.2 percent lower on Friday due to profit-taking after recent rises, while the U.S. debt stalemate still weighed on prices, dealers said.

The benchmark rubber contract on the Tokyo Commodity Exchange <0#JRU:> for January 2012 delivery fell 5.0 yen, or 1.2 percent, to settle at 386.5 yen ($4.97) per kg.

The most active rubber contract on the Shanghai futures exchange dropped 90 yuan to settle at 35,450 yuan($5,502) per tonne.

“Players took profits ahead of the weekend and some investors also sold contracts to avoid risk as they feared that the U.S. debt crisis could depress demand,” one dealer said.

Urgent efforts to avoid an unprecedented U.S. debt default suffered a new blow when some fiscally hardline Republicans blocked a budget deficit plan proposed by their own congressional leaders.

On the physical front, supply was limited as unseasonable rain hit Thailand’s southern areas, the country’s major rubber region, disrupting tapping and cutting supply, traders said.

“I think prices should gain support from the fundamental side as supply is likely to fall for at least a few weeks,” said a trader in Thailand’s Hat Yai rubber centre.

Source: Reuters

Tocom rubber futures settle 1.1% lower as weaker crude and USD/JPY spur profit-taking; the downside momentum looks set to continue Friday on profit-taking and end-month USD/JPY selling by exporters, says a Tokyo-based broker; still, fundamentals are relatively firm; the ANRPC tips natural rubber supply to remain tight into 2018. A Thailand-based trader pegs support at Y390/kg. Benchmark January RSS3 settles Y4.5 lower at Y391.5/kg, off an intraday low of Y386/kg.

Source: Dow Jones

[Dow Jones] Tocom rubber futures settle 2.2% higher; rising Shanghai rubber and recovering crude oil support; but overall trade volume on Tocom is relatively low due to caution as a strong yen still weighs and a stalemate continues in the U.S. over raising the debt ceiling. Prices may gain further if they stay above Y395/kg, a trader in Thailand says, pegs next big resistance level at Y400/kg. Benchmark January rubber settles Y8.4 higher at Y396/kg, near an intraday high of Y396.5/kg.

Source: Dow Jones

[Dow Jones] Asian physical rubber prices rise, in tandem with Tocom, as a bullish forecast from Association of Natural Rubber Producing Countries economist Lam Soon Jin at an industry conference supports sentiment. Lam says supply tightness will continue until 2018 even as global rubber production this year may reach 9.9 million metric tons from 9.4 million tons last year. Thailand”s STR20, for August shipment was sold at $4,830/ton, CIF to China. Indonesia”s SIR20 changes hands at $4,780/ton, FOB, for September shipment.

Source: Dow Jones

[Dow Jones] Tocom rubber futures settle higher, tracking Shanghai rubber, but a strong yen weighs on prices; “traders are concerned about the yen, which is the biggest drag on Tocom prices now,” says a trade participant in southern Thailand. Demand from tire makers in China and India is rising, driving up natural rubber prices–and rubber exports from Malaysia, Deputy Commodities Minister G. Palanivel said on the sidelines of a news briefing in Kuala Lumpur Tuesday. Traders will likely keep their eyes on the USD/JPY as well as U.S. debt-ceiling talks over the next few sessions. The previous benchmark contract, December, settles Y4.1 higher at Y386/kg, near the intraday high of Y386.2/kg. The new benchmark January contract settles at Y387.6/kg after opening at Y383.8/kg.

Source: Dow Jones