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TOKYO, Sept 9 (Reuters) – Tokyo rubber futures slipped 2.6
percent on Tuesday as widespread selling of commodities,
including a 1 percent fall in oil prices, spurred profit-taking
after rubber’s strong gains the previous session.
* Still, prices were supported due to delays in Thai physical
rubber shipments caused by rail strikes amid anti-government
protests and unseasonable rain in southern Thailand, which also
disrupted tapping.
* “Rubber has been pushed down along with other commodities,
but fundamentally the market is not that bad because we are
seeing fewer supplies since last week due to rain,” said a trader
in the rubber centre of Thailand’s Hat Yai.
* The key rubber contract on the Tokyo Commodity Exchange
<0#JRU:> for February delivery was down 7.9 yen, or 2.6 percent,
at 306.0 yen per kg.
* “There is an important chart point at around 306 yen. A
fall below that would hurt the technical trend and accelerate
selling pressure,” said Jun Nishimuta, analyst at Kanetsu Asset
Management in Tokyo.
The 200-day moving average was seen at 307.0 yen.
* U.S. crude futures fell more than $1 on Tuesday as traders
shed their commodity positions to join the rally in the dollar,
which hit a one-year peak against a basket of other currencies in
Monday’s session. [nSEO276417]
PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH MONDAY
Grade Price Change
Thai RSS3 (Oct) $2.98/kg -$0.02
Thai RSS3 (Nov) $2.98/kg -$0.02
Thai STR20 (Oct) $2.98/kg unchanged
Thai STR20 (Nov) $2.98/kg unchanged
Malaysia SMR20 (Oct) $2.95/kg -$0.03
Malaysia SMR20 (Nov) $2.95/kg -$0.03
Indonesia SIR20 (Oct) $1.31/lb -$0.02
Indonesia SIR20 (Nov) $1.31/lb -$0.02
Thai USS3 95 baht/kg -1 baht
Thai 60-percent latex (drums, Oct) $2,040/tonne -$10
Thai 60-percent latex (bulk, Oct) $1,900/tonne unchanged
(Reporting by Chikafumi Hodo; Editing by Hugh Lawson)
(([email protected]; +81-3-6441-1855; Reuters
Messaging: [email protected]))
** NOTE – The prices quoted above are offer prices collected
from traders in Thailand, Indonesia and Malaysia. They are not
official prices quoted by state-run rubber agencies in those
countries.
Source: Reuters