Japan rubber prices came under pressure on softness in the nation’s equity market, leading them to buck the sector’s regional upward trend.
The Nikkei Stock Average index hit its lowest level since Oct. 31, 2014, and entered a bear market as investors were rattled by concerns that continuing drops in crude-oil prices would hit economies and businesses closely linked to the energy industry.
Thai government spokesman Maj. Gen. Sunsern Kaewkumnerd this week said the cabinet had approved the allocation of 5.47 billion baht ($151 million) from the state budget to buy up to 100,000 metric tons of rubber directly from local farmers for 45 baht($1.24) a kilogram.
Asian Rubber Futures
Jan 20 Change from previous close
Tocom Jun RSS3 Y156.6 Kg Down 3.4 Kg
Shanghai May SCR5 CNY10,280 Kg Up CNY65 Ton
Thai Aug RSS3 THB48.05 Kg Up THB0.40 Kg
Sicom Apr RSS3 US 131.0 cent/Kg Unchanged
Sicom Apr TSR20 US 108.3 cents/Kg Up US 0.1 cents/Kg
Asian Physical Rubber
Grade Shipment Jan 20 Jan 19
RSS3 Feb/Mar 129-130 130-131
STR20 Feb/Mar 110-111 112-113
SIR20 Feb/Mar 108-109 108-109
SMR20 Feb/Mar 108-109 108-109
SVR3L Feb/Mar 120-121 118-119
USS THB38.55-THB38.62/Kg THB38.55-THB38.62/Kg
