Rubber future prices were largely lower in Asia on Monday, pulled down by a drop in oil prices after top producers failed to reach an agreement on an output freeze over the weekend.
Crude-oil prices tumbled around 3% in Asia trading. June Brent crude on London’s ICE Futures exchange fell 2.2% to $ 42.16 a barrel.
Traders say the decision will affect overall investor sentiment.
Furthermore, Toyota’s announcement that it will gradually halt vehicle production this week at most of its plants in Japan because of a shortage of components after the Kumamoto earthquakes has caused concern in Japan about what this will mean for demand for tires.
Asian Rubber Futures
Apr 18 Change from previous close
Tocom Sep RSS3 Y187.5/Kg Down Y2.8/Kg
Shanghai Sep SCR5 CNY12,515/Ton Down CNY40/Ton
Thai Sep RSS3 THB59.95/Kg Up THB0.95/Kg
Sicom Aug RSS3 US 166.1 cents/Kg Down US 0.4 cents/Kg
Sicom Aug TSR20 US 150.4 cents/Kg Down US 0.1 cents/Kg
Asian Physical Rubber
Grade Shipment April 18April 15
RSS3 May/Jun 169-170 169-170
STR20 May/Jun 152-153 153-153
SIR20 May/Jun 150-151 150-151
SMR20 May/Jun 149-150 151-152
SVR3L May/Jun 163-164 163-164
USS Apr THB53.55/Kg THB52.55/Kg
