Rubber futures close mixed on light volumes

Rubber futures close mixed on light volumes

SINGAPORE (Reuters): Singapore rubber futures ended mixed on light volumes yesterday, with traders sidelined as concerns about riots in Indonesia spread.

"People are saying 'let's wait and see about Indonesia' before they commit themselves to anything," a dealer with a local commodities brokerage said.

At least one person died in a second day of violent anti- government protests near Trisakti University in West Jakarta where six people were killed in clashes with security forces on Tuesday.

"Buyers are not necessarily taking positions on Thai or Malaysian rubber, but they are clearly avoiding Indonesia," the trader added.

Some switching from nearby to forward positions was seen, but suppliers were reluctant to make the deals.

"Suppliers are not willing to sell forward for fear that if the crisis does not subside and in future affects their production, big forward commitments could hurt them," another trader said.

Consequently, Singapore's RSS3 rubber futures were thinly traded. The June contract slipped 0.25 U.S. cent per kg to 76.75 cents, while the September contract closed unchanged at 78 cents per kg.

June RSS1 rose Singapore 1.25 cents to 124.75 cents per kg. September TSR20 FOB fell 1 U.S. cent to 75 cents per kg, the July contract was unchanged at 74.50 cents per kg and the August contract ended up 0.75 U.S. cent at 75.75 per kg.