BANGKOK, Jan 15 (Reuters) – Tokyo rubber futures dropped 2.6
percent on Thursday, tracking lower prices for oil and other
commodities.
* The benchmark rubber contract on the Tokyo Commodity
Exchange <0#JRU:> for June delivery fell 3.9 yen, or 2.6 percent,
to end at 144.9 yen ($1.63) per kg.
* Oil fell $1 on Thursday to near $36 a barrel, extending an
overnight decline as grim data from the world’s major economies
and more bad news on the banking crisis further darkened the
outlook for global energy demand.
* Gold slipped on Thursday, matching a one-month low on
Wednesday, due to a weaker euro and falling stock markets, but a
rise in ETF holdings to a record high suggested bullion still
finds favour among investors.
* Automaker Chrysler LLC said on Wednesday it would not sell
off brands like Jeep or any U.S. assembly plants, but it hoped to
sell equipment used to make the once-popular PT Cruiser.
[ID:nN14474050]
* The International Rubber Study Group forecast that global
rubber consumption may drop as much as 5 percent in 2009 as the
auto industry took the brunt of a worsening global recession,
adding that demand may recover only in 2010.
* Traders say physical demand for rubber from China remains
brisk ahead of the Lunar New Year, which begins on Jan. 26.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH WEDNESDAY
Grade Price Change
Thai RSS3 (Feb) $1.50/kg -$0.05
Thai RSS3 (Mar) $1.50/kg -$0.05
Thai STR20 (Feb) $1.48/kg -$0.02
Thai STR20 (Mar) $1.48/kg -$0.02
Malaysia SMR20 (Feb) $1.48/kg unchanged
Malaysia SMR20 (Mar) $1.48/kg unchanged
Indonesia SIR20 (Feb) $0.67/lb unchanged
Indonesia SIR20 (Mar) $0.67/lb unchanged
Thai USS3 47 unchanged
Thai 60-percent latex (drums, Feb) $1,200 unchanged
Thai 60-percent latex (bulk, Feb) $1,100 unchanged
** 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.
($1=34.90 baht)
($1=89.07 Yen)

Source:  Reuters

Comments are closed.