SMR20 rubber at M$2.52 per kilo for October shipment<\/p>\n
KUALA LUMPUR (Reuter): The International Natural Rubber
\nOrganization (INRO) buffer stock manager sold SMR20 rubber
\nwarehoused in Malaysia yesterday, an INRO official said.<\/p>\n
He said the group sold the SMR20 rubber at M$2.52 a kg, for
\nOctober shipment. Traders said this morning that INRO had set a
\nreserve price of M$2.50 a kg for the SMR20 rubber.<\/p>\n
The official said the SMR20 rubber is from INRO warehouses in
\nPenang and Port Klang, Malaysia.<\/p>\n
This is the seventh trading day the Kuala Lumpur-based INRO
\nhas asked for bids from traders as it sells rubber to curb
\nsoaring prices.<\/p>\n
INRO has been selling undisclosed amounts of SMR20 for the
\npast week as it has run out of SIR20 rubber that is warehoused in
\nIndonesia, INRO sources said.<\/p>\n
It has also sold similar TSR20 rubber in London last week,
\naccepting 59.25 pence a kg for September and October shipments on
\nFriday -- 10 pence lower than the bids it accepted on Thursday
\nfor similar forward shipment.<\/p>\n
In New York on Friday, INRO also sold an unspecified amount of
\nTSR20 rubber at 46.25 U.S. cents a pound -- 3.5 cents lower than
\nthe bids INRO accepted on Thursday -- and RSS3 rubber at 59 cents
\na pound in New York for August and September shipments.<\/p>\n
INRO last sold RSS3 rubber at US$1.12 a kg in Southeast Asia
\nwhen it first entered the market on July 8.<\/p>\n
INRO has sold unspecified amounts of RSS1, RSS3, SMR20 and
\nSIR20, for August and September shipments in the Southeast Asia
\nmarkets, from its warehouses in China, Malaysia and Indonesia.<\/p>\n
Despite further sales, INRO's five-day moving average price
\nrose to 234.11 Malaysian\/Singapore cents a kg on July 15 versus
\nJuly 14's 233.25 cents.<\/p>\n
INRO's daily indicator rose further to 236.50 cents on July 15
\nagainst 235.43 cents on July 14.<\/p>\n
INRO's buffer stock sales of SMR20 rubber for such forward
\npositions did not have much impact on nearby SMR20 positions in
\nMalaysia.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/smr20-rubber-at-m252-per-kilo-for-october-shipment-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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