Rubber prices continued to trade lower as bearish market sentiment weighed on markets Thursday, amid light volumes with both Japan and China closed for national holidays.
On Thursday, the Hang Seng China Enterprises Index of Chinese firms trading in Hong Kong plunged 4.9% to 7657.91, below the key 8000 level and the lowest since 2009.
A Singapore-based trader said some market participants remained on the sidelines due to concerns about the International Rubber Tripartite Council’s decision to limit supply into the market. However, he added that he still saw prices continuing to drop over the coming weeks.
Asian Rubber Futures
Feb 11 Change from previous close
Tocom Jul RSS3 CLOSED CLOSED
Shanghai Mon SCR5 CLOSED CLOSED
Thai Mon RSS3 THB43.90/Kg Down THB0.30
Sicom May RSS3 US 122 cents/Kg Down US 1.3 cents/Kg
Sicom May TSR20 US 104.5 cents/Kg Down US 1.9 cents/Kg
Asian Physical Rubber
Grade Shipment Feb 11 Feb 10
RSS3 Mar/Apr 121-122 121-122
STR20 Mar/Apr 108-109 109-110
SIR20 Mar/Apr 106-107 108-109
SMR20 Mar/Apr 105-106 107-108
SVR3L Mar/Apr 125-126 125-126
USS Feb THB36.28-THB36.87/Kg THB36.28-THB36.87/Kg
