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Asian Rubber Futures Slip on Weaker Oil

Asian rubber futures finished slightly weaker on Monday, weighed down by a decline in crude-oil prices and a stronger yen.

Benchmark Tokyo rubber futures continued their downward slide in the wake of lower crude-oil prices. Tocom rubber futures for May delivery closed 1.8 yen lower at Y166.1($1.37) a kilogram.

Slowing demand from top buyer China will "continue to worry investors," said a Tokyo-based analyst. Overall, the market will "remain fragile" due to global oversupply, he said.

However, a Singapore-based trader said rubber prices seemed to be holding up relatively well, likely because traders were wary of shorting rubber ahead of slowdown caused by Chinese New Year and wintering. Wintering, which occurs between mid-February and mid-April, is when rubber trees lose their leaves and latex production can fall by up to 75%.

The most active rubber contract on the Shanghai futures exchange for May delivery rose 120 yuan to finish at CNY10,180($1,576) a metric ton.

Asian Rubber Futures      December 14               Change from previous close

Tocom    May RSS3             Y166.1/kg                      Down Y1.8/kg

Shanghai May SCR5            CNY10,180/ton              Up CNY120/ton

Thai     Jul RSS3                  THB48.80/kg                  Down THB0.20/kg

Sicom    Jan RSS3              US 126.2 cents/ton         Down US 1.7 cents/ton

Sicom    Feb TSR20            US 116.0 cents/ton         Down US 0.5 cents/ton

Asian Physical Rubber    

Grade   Shipment  Dec. 14   Dec. 11

RSS3     Jan/Feb      126-127   127-128

STR20   Jan/Feb      120-121   121-122

SIR20    Jan/Feb      117-118   117-118

SMR20   Jan/Feb     118-119    120-121

SVR3L   Jan/Feb     120-121    120-121

USS    Jan              THB38.59-THB38.83/Kg        THB38.60-THB39.02/Kg

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