Asian rubber futures continued their winning streak, finishing higher Thursday on support from significant advances in Shanghai rubber futures.
Chinese stocks bounced sharply for the second day on Thursday, reversing an early-week slump, said Kaname Gokon, an analyst with Okato Shoji. Firmer Shanghai rubber futures have “helped ease investor worries, to a large extent,” he said.
The Tocom surge will continue this week but the “price is expected to remain under pressure” unless demand picks up in top-buyer China, Mr. Gokon said.
The rebound in Tokyo rubber futures comes after prices fell more than 3% earlier in the week.
The Tokyo Commodity Exchange rubber contract for April delivery closed 6.6 yen higher at Y164.6 ($1.34) a kilogram on Thursday.
The most active rubber contract on the Shanghai futures exchange for May delivery rose 305 yuan to end at CNY10,070 ($1,577) a metric ton.
Asian Rubber Futures
November 26 Change from previous close
Tocom Apr RSS3 Y164.6/Kg Up Y6.6
Shanghai May SCR5 CNY10,070/ton Up CNY305
Thai Jun RSS3 THB48.50/Kg Up THB1.50
Sicom Mar RSS3 130.5 US cents/Kg Up 1.5 US cents/Kg
Sicom Apr TSR20 115.4 US cents/Kg Up 1.1 US cents/Kg
Asian Physical Rubber
Grade Shipment Nov 26 Nov 25
RSS3 Dec/Jan 124-128 123-124
STR20 Dec/Jan 119-120 115-116
SIR20 Dec/Jan 116-117 114-115
SMR20 Dec/Jan 118-119 114-115
SVR3L Dec 120-121 120-121
USS Dec THB37.78-THB38.19/Kg THB37.01-THB37.44/KgTHB
