Tocom Rubber Higher on Nikkei, Yen (Jan. 29)

29 January 2014, 08:29 SEAST

Tocom rubber futures are higher on a rebound in the Nikkei and as the yen weakens against the U.S. dollar.

Thailand rubber supplies are declining while motor-vehicle sales are firm but market tone is weak, IRCo chief executive Yium Tavarolit says in his weekly report.

“Natural rubber prices will recover from current levels in the coming months if rubber-market fundamentals could outweigh the currently weak rubber market sentiment and investor confidence,” he adds.

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Traders will keep their eyes on the Nikkei and USD/JPY on Wednesday as many Chinese investors are already off for the Lunar New Year holidays which start on Friday.

Benchmark July rubber trades Y4.1 higher at Y232.2/kg–off the intraday high of Y234.3/kg.

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