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Rubber futures prices bounced higher on Wednesday, supported by strength in other commodity prices over the last 24 hours.
Crude oil futures steadied Wednesday in Asia amid renewed concerns about a global surplus, after climbing nearly 3% overnight. Metals that sank to multiyear lows earlier in the week also surged overnight but pared some of those gains. However, with rubber not traded in New York or London it played catch-up in Asia.
The moves came on renewed concerns about tensions in the Middle East and what this might mean for supply, said a Singapore-based trader.
Asian Rubber Futures
Nov 25 Change from previous close
Tocom Apr RSS3 Y157.5/kg Up Y2.5
Shanghai May SCR5 CNY9,765/ton Up CNY230
Thai Jun RSS3 THB47.00/Kg Up THB0.20
Sicom Mar RSS3 129.0 US cents/Kg Up 2.5 US cents/Kg
Sicom Mar TSR20 114.5 US cents/Kg Up 1.7 US cents/Kg
Asian Physical Rubber
Grade Shipment Nov 25 Nov 24
RSS3 Dec/Jan 123/124 120-121
STR20 Dec/Jan 115/116 114-115
SIR20 Dec/Jan 114/115 114-114
SMR20 Dec/Jan 114/115 113-113
SVR3L Dec 120/121 120-121
USS Dec THB37.01-THB37.44/Kg THB41.53-THB42.09/Kg
