S'pore rubber futures prices firm<\/p>\n
SINGAPORE (Agencies): Singapore rubber futures prices ended
\nfirmer yesterday on European and local buying interest in tandem
\nwith the Japanese market, dealers said.<\/p>\n
Trading was moderate, with turnover dropping to 9,070 tons
\nfrom 13,390 tons the previous day, while prices of the three
\ngrades traded rose one to two cents, a dealer said.<\/p>\n
January-March RSS 1 last traded at 206.5 Singapore cents,
\nNovember RSS 3 at 146.5 US cents and November TSR 20 at 195
\nSingapore cents.<\/p>\n
In Kuala Lumpur, rubber prices rose further on shortcovering
\nby European and U.S. tyre makers due to tight supply, arising
\nfrom the wet weather, traders said.<\/p>\n
Consumers are seen covering their positions due to shortages
\nof raw materials in many producing countries. "There is an acute
\nshortage and we don't see much stocks in Malaysia, Thailand and
\nIndonesia."<\/p>\n
"The Europeans and U.S. tyre makers are in Malaysia covering
\nfor SMR 20 for nearby shipment for fear they can't get stocks
\nbecause of the current low supplies."<\/p>\n
Dealers were unable to disclose further details.<\/p>\n
"The weather is the market factor and output in coming months
\nis likely to drop," a dealer said, estimating falls of up to 40
\npercent in October production.<\/p>\n
Buying from China has slowed down as prices have gone too
\nhigh, traders said. The Chinese buyers have been in the market,
\nbuying SMR 20 and some sheet rubber in recent days. Dealers were
\nunable to provide further details as China's deals are mostly
\ndirect.<\/p>\n
Nov RSS Ones buyer rose two cents to 365.50 cents ($1.44) a kg
\nand Nov SMR20 buyer was up 3.50 cents at 345.50.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/spore-rubber-futures-prices-firm-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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