RI's haze feared affect rubber supply<\/p>\n
SINGAPORE (Reuter): The Singapore rubber trade cast a wary eye
\non forest fires raging in Indonesia with some of the trade saying
\nyesterday that producers there were using the blaze as an excuse
\nnot to lower their prices.<\/p>\n
\"These guys are not lowering their prices because some of them
\nare citing these fires and are saying it might come close to the
\nplantations. We know its very dry, but that possibility sounds
\nseems unlikely,\" a dealer said.<\/p>\n
Choking smog from those forest fires have thrown a leaden gray
\nsmog over most of Southeast Asia. Some dealers said this may have
\na long-term impact on supplies in the rubber market.<\/p>\n
Action in the local market was fairly thin, with only some
\nlight shortcovering seen for RSS3 rubber and little else in the
\nother rubber grades, dealers said.<\/p>\n
\"It's very thin. I think Michelin has almost finished its
\nbuying program and will wait until next week before coming in,\" a
\ntrader said. Michelin was said looking for November RSS3 at 85
\nU.S. cents a kg, but the trade found the offer too low.<\/p>\n
At around 0945 GMT, December RSS3 was seen at 90.50 U.S. cents
\na kg from 90.75 cents.<\/p>\n
In Jakarta, Indonesia's tire-grade SIR20 offer prices were
\nflat in late morning trading on Thursday as a bearish outlook
\ncontinued to drag market sentiment down, traders said.<\/p>\n
\"Trading is becoming more and more lethargic. The outlook
\nremains bearish and we don't see any fresh leads which can cheer
\nus up,\" said one trader in Palembang in South Sumatra province.<\/p>\n
Traders said they news of a possible sales from the Thai
\ngovernment rubber stockpile, estimated at 110,000 tons, had some
\neffect on the market.<\/p>\n
\"I am sure that sooner or later Thailand will sell stocks. It
\nis only a matter of timing, especially as the country is heading
\nfor an election,\" said one trader.<\/p>\n
\"We have a more bearish trend because of the Thailand factor,\"
\nhe said.<\/p>\n
Traders said trading was very quiet despite sporadic sales in
\nthe previous days. They said offer prices were quoted at 39.50
\nU.S. cents\/lb for November shipment.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ris-haze-feared-affect-rubber-supply-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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