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.