This entry was posted on Friday, January 8th, 2010 at 8:27 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, Jan 8 (Reuters) – Tokyo rubber futures edged up on
Friday to near a 15-month high hit the previous day as a weaker
yen mitigated a drop in oil pricees.
* TOCOM’s rubber contract for June 2010 delivery
settled 2.8 yen per kg higher at 291.7 yen, having reached a high
of 297.2 yen per kg on Thursday, its strongest since September
2008.
* The physical market was quiet after some quantities of
Thai, Indonesian and Malaysian tyre grades were traded late on
Thursday at between $2.95 and $3.01 a kg for nearby shipment.
* “There’s not much activity. Consumers are now careful about
buying at current levels,” said a dealer in Indonesia’s main
growing island of Sumatra.
* SIR20 was sold at 133.74 U.S. cents per pound and 134.50
cents for February and March shipment in overnight deals, while
RSS3 changed hands at $3 a kg and SMR20 at $3.01.
* The dollar hit a four-month high against the yen on Friday
on growing expectations that a key U.S. jobs report would point
to an improving economy. [USD/]
* Oil edged lower on Friday, extending losses made the
previous day on worries about tighter Chinese monetary policy,
with traders eyeing U.S. jobs data due later for the next clue on
economic growth and potential oil demand. [O/R]
Source: Reuters