Rubber prices ended Thursday session largely unchanged as the market was waiting to take cues from any development on a possible crude-oil deal that could limit productions, said analysts.
“Rubber prices were higher in early session but profit-taking quickly brought prices down. This is because a lack of fresh news in the market,” said a Singapore-based trader who says the rubber market could stay bearish until there is more clarity on the crude front.
Oil market watchers said even though Iran is unlikely to cooperate, the fact the major producers were willing hold a discussion on production marked a positive first step towards stabilizing the oil market.
The Tocom six-month benchmark rubber price is flat at Y152.6/kg.
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Asian Rubber Futures
Feb 18 Change from previous close
Tocom July RSS3 Y152.6/Kg Unchanged
Shanghai May SCR5 CNY10,495/Ton Up CNY 5/Ton
Thai Sep RSS3 THB45.85/Kg Up THB1.55/Kg
Sicom May RSS3 US128 cents/Kg US 0.6 cent/Kg
Sicom May TSR20 US109.3 cents/Kg Up 0.4 cent/Kg
Asian Physical Rubber
Grade Shipment Feb 18 Feb 17
RSS3 Mar/Apr 125-126 125-126
STR20 Mar/Apr 109-110 109-110
SIR20 Mar/Apr 108-109 108-109
SMR20 Mar/Ap 107-108 107-108
SVR3L Mar/Apr 125-126 125-126
USS Feb THB38.89-THB39.05/Kg
