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Wednesday, May 25, 2022

Asian Rubber Futures Flattish on Lack of Fresh Cues

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.

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

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