BANGKOK, Nov 7 (Reuters) – Tokyo rubber futures ended 2.8
percent higher on Friday, bouncing back from early losses due to
speculative buying, fuelled by a recovery in oil prices.
* The benchmark April 2009 contract on the Tokyo Commodity
Exchange <0#JRU:> rose 5.0 yen, or 2.8 percent, to settle at
183.9 yen ($1.89) per kg.
* Oil rebounded from a 20-month low to hover above $61 a
barrel on Friday, although the gloomy economic outlook is likely
to weigh on near-term energy demand.
* Rubber prices often move in line with oil as both markets
are sensitive to demand from automobile users.
* Toyota Motor Corp <7203.T> more than halved its profit
forecast, saying annual net earnings would plunge to a nine-year
low as the financial crisis batters demand for its cars, cuts
access to credit and sends the yen higher. [ID:nT27754]
* Trade in the Tokyo rubber market remained volatile, with
investor sentiment at the mercy of wild swings in other financial
markets.
* Japan’s benchmark Nikkei share average <.N225> fell 3.5
percent on Friday, adding to the pressure on TOCOM futures.[.T]
* On the physical front, rubber prices were lower after early
falls on TOCOM and trade remained thin.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH THURSDAY
Grade Price Change
Thai RSS3 (Dec) $1.80/kg -$0.15
Thai RSS3 (Jan) $1.80/kg -$0.15
Thai STR20 (Dec) $1.78/kg -$0.12
Thai STR20 (Jan) $1.78/kg -$0.12
Malaysia SMR20 (Dec) $1.80/kg -$0.05
Malaysia SMR20 (Jan) $1.80/kg -$0.05
Indonesia SIR20 (Dec) $0.80/lb -$0.04
Indonesia SIR20 (Jan) $0.80/lb -$0.04
Thai USS3 58 baht/kg – 2 baht
Thai 60-percent latex (drums, Dec) $1,400/tonne -$100
Thai 60-percent latex (bulk, Dec) $1,400/tonne -$100
($1=35.02 baht)
($1=97.65 Yen)

Source:  Reuters

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