Rubber futures prices ended little changed across Asia on Thursday as a rise in the Shanghai rubber contract erased losses seen early in the session on the Tokyo exchange.
However, such moves higher seemed to be meeting some resistance and the overall sentiment toward rubber remained bearish, said a Singapore-based trader. He added that the fundamentals of weak demand and significant stocks continued to make the outlook for rubber downbeat.
Further moves lower were indicated by a drop in the Tocom April rubber contract during the night session, which is considered part of the next trading day.
The April rubber futures contract ended down 0.9 yen at Y158.30($1.28) a kilogram.
Asian Rubber Futures
Nov 12 Change from previous close
Tocom Apr RSS3 Y159.0/Kg Up Y0.0/Kg
Shanghai Jan SCR5 CNY10,740/Ton Up CNY20/Ton
Thai Jun RSS3 THB48.00/Kg Unchanged
Sicom Jan RSS3 US 123.0 Cents/Kg Down US 0.5 Cents/Kg
Sicom Jan TSR20 US 118.8 Cents/Kg Up US 1.9 Cents/Kg
Grade Shipment Nov 12
RSS3 Dec/Jan 123/124
STR20 Dec/Jan 123/124
SIR20 Dec/Jan 122/123
SMR20 Dec/Jan 118/119
SVR3L Dec 123
USS Nov THB37.93-THB38.35/Kg THB38.28-THB38.63/Kg
