This entry was posted on Tuesday, January 6th, 2009 at 4:34 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
BANGKOK, Jan 6 (Reuters) – Tokyo rubber futures rose 6.6
percent to mark a 1-½ month high on Tuesday, tracking gains in
Shanghai rubber futures, which have hit their upside limit for
three consecutive days, dealers said.
* The benchmark rubber contract on the Tokyo Commodity
Exchange <0#JRU:> for June delivery rose 9.6 yen, or 6.6 percent,
to settle at 154.6 yen ($1.65) per kg.
It rose as high as 154.9 yen, the highest since Nov. 19.
* TOCOM rubber rose on speculative buying as players bought
contracts after seeing the bullish trend in Shanghai.
* Trading in Shanghai rubber futures will be halted
on Wednesday after they hit the upside limit for three days, the
exchange said in a statement on its website (www.shfe.com.cn).
* China’s State Reserves Bureau plans to purchase up to
50,000 tonnes of natural rubber in response to a slump in prices
caused by the global economic slowdown, sources said on Monday.
[ID:nSHA328855]
* TOCOM rubber was expected to rise further on Wednesday
after it finished above the psychological level of 150 yen,
dealers said.
PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH DEC. 30
Grade Price Change
Thai RSS3 (Feb) $1.55/kg +$0.15
Thai RSS3 (Mar) $1.55/kg n/a
Thai STR20 (Feb) $1.50/kg +$0.15
Thai STR20 (Mar) $1.50/kg n/a
Malaysia SMR20 (Feb) $1.50/kg +$0.15
Malaysia SMR20 (Mar) $1.50/kg n/a
Indonesia SIR20 (Feb) $0.66/lb +$0.05
Indonesia SIR20 (Mar) $0.66/lb n/a
Thai USS3 46 n/a
Thai 60-percent latex (drums, Feb) $1,150 n/a
Thai 60-percent latex (bulk, Feb) $1,050 n/a
Source: Reuters