The rubber market continues to be driven by moves in other commodity prices and fluctuations in currencies.
Key for rubber prices is oil and metal pricing, says Nakayama Hiroyuki, head of marketing at Phillip Securities in Japan. “Recently oil markets shows some technical signs of bottom, also precious metal markets will hold positive impact to whole market.”
Mr. Nakayama added that while the International Rubber Tripartites’s reduction of products from March 1 will have some positive impact, traders are “skeptical it would be able to change it [the rubber market] into a bull market.”
Asian Rubber Futures
Feb 23 Change from previous close
Tocom Mon RSS3 Y155.4/Kg Up Y2.2/Kg
Shanghai May SCR5 CNY10,670/Ton Down CNY30/Ton
Thai Sep RSS3 THB45.85/Kg Up THB2.05/Kg
Sicom May RSS3 US 130.2 cents/Kg Up US 0.2 cents/Kg
Sicom May TSR20 US 112.0 cents/Kg Unchanged
Asian Physical Rubber
Grade Shipment Feb 23 Feb 22
RSS3 Mar/Apr 126-127 127-128
STR20 Mar/Apr 111-112 112-114
SIR20 Mar/Apr 111-112 110-111
SMR20 Mar/Apr 110-111 111-113
SVR3L Mar/Apr 125-126 126-126
USS Feb THB39.49-THB39.59/Kg THB38.97-THB39.17/Kg
