Rubber futures end weaker

Rubber futures end weaker

SINGAPORE (Reuters): Singapore rubber futures closed mostly
weaker yesterday in bearish trade with players waiting to see
whether the International Natural Rubber Organization (INRO)
would raise market intervention levels to overcome sagging
prices, traders said.

Representatives from Thailand, Malaysia, Indonesia and
Singapore agreed recently that they would lobby their respective
governments for the INRO to intervene in the market at a higher
buffer stocking price level.

"Nothing new is going on in the market. Most players are
waiting for INRO to do something," said one trader.

"Before anything comes out from INRO, I think the market will
still be in a downtrend," the trader said.

Only July RSS3 futures posted some gains, rising 1.25 cents to
70.25 U.S. cents a kg around 0945 GMT.

September TSR20 futures lost half a cent at 63.75 U.S. cents a
kg and October/December futures fell one cent to 67.00 U.S. cents
a kg.