SINGAPORE, Nov 17 (Reuters) – The most active rubber
contract on Tokyo Commodity Exchange rallied to its strongest in
more than a year on Tuesday on strong oil prices and other
commodities as well as tight supplies in main producer Thailand.
* TOCOM’s rubber contract for April delivery <0#JRU:>
settled 1.6 yen per kg higher at 238.3 yen, having hit an
intraday high of 240.7 yen, its highest level since October last
year.
* “Waiting for price relief is looking like a waste of time
at the moment. Our own man on the ground in Thailand reports
heavy rains three times during the day,” a dealer in Jakarta
said.
* “Estate processors in southern Thailand and northern
Malaysia report no respite to current heavy rains and the
flooding inundating five of the area’s states across the joint
border,” he added.
* Other dealers said gold’s recent rally to another record
also added to the bullish sentiment. Gold hit a lifetime
high above $1,140 an ounce on Monday and other commodities from
copper to oil and coffee rallied too as the dollar fell to a
15-month low against a basket of currencies. [GOL/] [COM/WRAP]
* Oil was softer on Tuesday, but clung to most of its
previous session gains of 3 percent, hovering above $78 a
barrel, as traders took profit ahead of the release of key U.S.
indicators and a weekly fuel inventories report. [O/R]
* Prices of tyre grades firmed in Southeast Asia, with
Thai’s RSS3 rising more than 1 percent, to reflect strong Tokyo
futures. [ID:nSP399703]
* Indonesia’s SIR20 grade was sold late on Monday to major
tyre makers at 112.50 to 112.75 U.S. cents per pound for
December to March shipment, dealers said.
* The International Rubber Study Group (IRSG) will get a new
secretary general early next year when Stephen Evans succeeds
Hidde Smit, the organisation said on Tuesday. [ID:nSP156909]

Source: Reuters

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