BANGKOK, Jan 16 (Reuters) – Tokyo rubber futures rose to a
one-week high above 150 yen on Friday, but profit-taking limited
the rise.
* The benchmark rubber contract on the Tokyo Commodity
Exchange <0#JRU:> for June delivery rose 5.5 yen, or 3.8 percent,
to settle at 150.4 yen ($1.67) per kg.
It rose as much as 6.3 percent to 154.0 yen, the highest
since Jan. 7, before profit-taking set in.
* TOCOM prices were expected to rise further next week after
the benchmark finished above the psychological level of 150 yen,
dealers said.
* Oil steadied above $35 a barrel on Friday after a 5 percent
fall overnight, although concern about the health of the global
economy and about fuel demand kept up the pressure on the market.
* The dollar recovered against the yen, inching up 1 percent
from late New York trade to 90 yen , which supported TOCOM
contracts. [FRX/]
* Traders say physical demand for rubber from China remains
brisk ahead of the Lunar New Year holiday, which begins on Jan.
26.

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH THURSDAY
Grade Price Change
Thai RSS3 (Feb) $1.55/kg +$0.05
Thai RSS3 (Mar) $1.55/kg +$0.05
Thai STR20 (Feb) $1.48/kg unchanged
Thai STR20 (Mar) $1.48/kg unchanged
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=90.13 YEN)
($1=34.82 baht)

Source:  Reuters

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