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Thursday, July 7, 2022

Asian Rubber Futures End Higher

By Lucy Craymer

Rubber futures closed higher Monday as volumes remained light with China out on holiday this week and producers remained hesitant to enter the market with prices so low.

Tokyo rubber futures ended higher, boosted by robust Japanese stocks but markets will continue to remain under pressure over weak demand from top buyer China

Japan’s Nikkei 225 Stock Average closed up 1.6%, after the Nikkei Japan Services purchasing managers index for September cooled to 51.4 from 53.7 in August, which was the highest in almost two years. A reading above the 50 level indicates expansion, and below that indicates contraction.

However, trading is expected to be thin in the coming days as “traders and investors are shying away from taking fresh positions” due to national holidays in the Chinese financial markets, says a Tokyo-based analyst.

Asian Rubber Futures

                        Oct. 5                  Change from previous close

Tocom    Mar RSS3       T171 Kg                 Up Y1.0
Shanghai Jan SCR5       CLOSED                  CLOSED
Thai     May RSS3       THB51.20/Kg             Up THB0.25
Sicom    Mar RSS3       139.5 US cents/Kg       Up 1.5 US cents
Sicom    Mar TSR20      124.5 US cents/Kg       Up 1.1 US cents/Kg

Asian Physical Rubber

Grade    Shipment      Oct. 5         Oct. 2
RSS3     Nov/Dec       133/134        133/133.4
STR20    Nov/Dec       123/132        129/130
SMR20    Nov/Dec       130/131        130/131
SIR20    Nov/Dec       125/125        124/125
SVR3L    Nov           132            130/131

USS      Oct           THB41.99-THB42.22/Kg     THB41.79-THB41.98/Kg

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