Asian rubber settles higher Tuesday as sentiment remains lifted after IRCo’s weekend statement urging producers not to sell the commodity at “unreasonably low” price levels.
The upside to prices, however, was limited with Tocom closed for a public holiday and as traders are also awaiting Federal Reserve Chairwoman Janet Yellen’s testimony to Congress scheduled on Tuesday and Wednesday.
“Hopefully, prices will stabilize soon,” says a Singapore-based dealer. Benchmark May natural rubber on the Shanghai Futures Exchange settles 0.3% higher at CNY15,805/ton.
Benchmark September Thai AFET RSS3 settles 0.8% higher at THB72.05; AFET September STR20 settles 1.6% higher at THB64.65.
SGX Sicom benchmark March RSS3 was last up 3.5 cents at 215.5 U.S. cents/kg. SGX Sicom benchmark March TSR20 was last up 1.3 cents at 193.5 cents/kg.
Dow Jones
