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SINGAPORE, Feb 4 (Reuters) – Tokyo rubber futures fell on
Thursday as weaker oil prices and a firmer yen spurred selling
from speculators, but demand from tyre makers kept the physical
market alive.
* The July 2010 contract on Tokyo Commodity Exchange
ended at 282.9 yen per kg, down 2.0 yen from previous settlement.
* “I think the market is just tracking currencies and other
commodities. I guess the trading range will be between 280 and
290 yen,” said a dealer in Tokyo.
* Oil fell a few cents on Thursday to trade below $77 as
rising crude inventories in the United States signalled that a
rebound in U.S. economic activity was failing to translate into
higher demand. [O/R]
* The dollar dipped 0.1 percent against the yen to 90.91
, ceding some ground after hitting a two-week high of 91.28
yen on Wednesday helped by better economic data out of the United
States and higher U.S. yields. [USD/]
* Chinese firms bought tyre rubber grades for more than $3 a
kg ahead of the Lunar New Year and other companies stepped up
purchases before the dry winter season curbs supplies. [RUB/AS]
* Thai RSS3, Indonesian SIR20 and Malaysia’s SMR20 grades
changed hands at between $3 and $3.06 a kg for nearby shipment in
active trade late on Wednesday, although prices had gone up as
much as 2 percent in the past week.
* Thailand, the world’s biggest rubber exporter, would step
in to buy rubber and build up stocks if the price of unsmoked
sheet (USS3) fell below 80 baht ($2.42) per kg, a deputy prime
minister said on Wednesday. [ID:nSGE6120E1]
Source: Reuters