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Tuesday, March 21, 2023

Asian Rubber Futures Settle Lower on Stronger Yen

Asian rubber futures finished marginally lower on Monday amid a stronger yen that put pressure on rubber markets in Japan.

The Tokyo Commodity Exchange rubber contract for April delivery finished 0.6 yen lower at 159.9 yen per kilogram.

Trading was “mostly light” during the day “guided by a slowing demand,” particularly from top-buyer China, says Kaname Gokon, an analyst at Okato Shoji brokerage. He adds the “trend will continue” until demand improves.

The most active rubber contract on the Shanghai futures exchange for January delivery was up CNY30 to settle at CNY10,880 ($1,715) a metric ton.

Asian Rubber Futures 
                        November 02               Change from previous close 
Tocom    Apr RSS3       Y159.9/Kg                      Down Y0.6 
Shanghai Jan SCR5       CNY10,880/ton                  Up CNY30 
Thai     Jun RSS3       THB46.80/Kg                    Down THB0.20 
Sicom    Apr RSS3       130.5 US cents/Kg              Down 1.8 US cents/Kg 
Sicom    Apr TSR20      117.8 US cents/Kg              Down 1.0 US cents/Kg 
Asian Physical Rubber 
Grade  Shipment  Nov. 02 
RSS3   Dec/Jan   124-125 
STR20  Dec/Jan   124-125 
SIR20  Dec/Jan   120-121 
SMR20  Dec/Jan   123-124 
SVR3L  Dec       130 
USS      Dec           38.65-THB38.81/Kg             THB38.69-THB38.81/Kg 

Vibhuti Agarwal

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