Tocom RSS3 rubber futures are higher on a slightly weaker yen although prices remain locked in range and under the psychological Y200/kg level.
International Rubber Consortium’s chief executive, Yium Tavarolit, says in his weekly report that natural rubber prices are below synthetic rubber prices due to an oversold Tocom. “If the situation remains unchanged, there is a strong tendency for natural rubber production in the coming year (to) decrease significantly,” he adds.
Benchmark January rubber trades Y1.1 higher at Y199.0/kg, after moving in a Y197.7-Y199.9/kg range.
Source: Dow Jones
