This entry was posted on Monday, January 11th, 2010 at 7:14 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.
SINGAPORE (Dow Jones)–RSS3 rubber on the Agricultural Futures Exchange of Thailand rose to an 18-month high Monday on arbitrage with Shanghai amid concerns over unseasonal rains hitting supplies, said trade participants.
The benchmark AFET August contract traded THB3.00/kg higher at THB105.50/kg.
Some traders have closed their positions on Shanghai Futures Exchange to buy on AFET, said Chiaki Furui, chief executive, Agrow Enterprise, a Bangkok-based commodities brokerage.
He said the ongoing rains during peak rubber production season have also hit supplies, buoying investor sentiment.
Benchmark SHFE May contract settled up CNY695, or 2.8%, at CNY25,710/ton.
Source: Dow Jones