Asian rubber markets ended mostly a bit lower last week, as China’s GDP showed a decelerating growth rate at 7.4% in the third quarter of 2012, the slowest pace since 2009. Meanwhile, physical prices tended to move downwards as rubber futures slid, and most buyers from China continued to bid too low.
IRCo’s DCP stayed at 299.84 US cents/kg on Friday, or 5. 39 US cents/kg (1.77%) lower than its initial price at 305.23 US cents/kg on Monday. Meanwhile, Thailand RSS-3 also fell to 318.40 US cents/kg on Friday, or down 3.92 US cents/kg, or 1.22% from its settlement price at 322.32 US cents/kg on Monday. On the contrary, Thai STR-20 rose to 298.05 US cent/kg on Friday from 296.94 US cents/kg on Monday, or gained 1.11 US cents/kg.
In the meantime, Malaysia SMR20 settled 5.00 US cents/kg lower at 301.00 US cents/kg on Friday, or lost 1.63% compared with its settlement price at 306.00 US cents/kg on Monday. Likewise, Indonesia SIR20 also fell to 290.00 US cents/kg on Friday from 296.00 US cents/kg on Monday, or down 2.03%.
The benchmark rubber contract for March delivery on TOCOM settled 2.70 yen/kg lower at 255.40 yen/kg on Friday, or lost 1.05% compared with its settlement price at 258.10 yen/kg on Monday. Furthermore, AFET RSS-3 for May delivery also fell from 101.00 THB/kg on Monday to 98.30 THB/kg on Friday, or lost 2.70 THB/kg, or down 2.67%. On the contrary, Shanghai Futures Commodity Exchange closed higher at 25,175.00 Yuan/ton, or 10.00 Yuan/ton (0.04%) higher than its settlement price at 25,165.00 Yuan/ton on Monday.
NR supply is expected to be tight in the coming week as main rubber production regions in Indonesia are entering the dry wintering season, while Thailand and Malaysia are in the rainy season.
Source: IRCo
