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Rubber prices
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zhuge_liang
Supreme |
07-Feb-2007 13:06
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Asian physical rubber prices rose on Wednesday, tracking Tokyo Commodity Exchange futures which surged by their daily 10-yen limit in early trade due to speculative buying. Buyers were concerned about falling supply because Thailand, the world's top producer, is in the wintering season when latex output falls. Indonesia, the world's number-two producer, has been hit by floods, which cut telecommunications and made many key roads impassable. |
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shplayer
Elite |
07-Feb-2007 12:14
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Rubber Prices on MRB showed strong uptrend @ midday. |
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zhuge_liang
Supreme |
07-Feb-2007 00:24
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Rubber futures on the Tokyo Commodity Exchange turned upward after 2 days of decline Tuesday, wiping out the early losses on renewed buying toward the end of the session. The most active July 2007 contract settled at 277.9 yen per kilogram, up 2.3 yen from Monday, after rewriting its listing-to-date low at 272.3 yen in early trading. Rubber futures slightly lost ground at the start amid long liquidation in a bearish mood carried over from the previous day. After that, prices hovered between the plus and minus columns amid sellers' repurchases to establish profits and loss-cut liquidation by buyers. Trading lacked direction later in the morning, but buying on declines became active toward the closing. |
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zhuge_liang
Supreme |
05-Feb-2007 23:46
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Rubber futures were narrowly mixed in early trading. Buying on oil futures' strong gains and selling on Friday's steep declines mingled with each other. The July contract opened unchanged and sank into negative territory, rewriting its listing-to-date low. Buying gathered steam toward the morning close, reflecting oil futures' strength. In the afternoon, the market reversed course and prices slipped into the minus column as bears moved to sell on rallies, inducing loss-cut liquidation by buyers. |
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zhuge_liang
Supreme |
05-Feb-2007 17:18
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Tokyo rubber futures retreated from early gains on Monday, falling almost 1 percent as investors took profits. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery settled at 275.6 yen per kg, down 0.9% from Friday's close. It rose as high as 282.4 yen in the morning session, when a rise in oil prices lent support and triggered speculative buying. U.S. crude oil futures edged higher towards US$60 a barrel on Monday, extending gains in the previous session as cold weather in the United States was forecast to continue through the week. Prices were expected to trade in the technical range of 270-280 yen, supported by supply worries. But profit-taking in futures trade put pressure on prices. "I see a strong support level of 275 yen and 270 yen respectively," a dealer in Singapore said. "Prices should not fall significantly." Traders said losses would be limited by concerns about tighter supply as the wintering season, when latex output is lower, begins in top producing countries such as Thailand. On the physical front, remained firm, buoyed by the rise in TOCOM and concerns over falling supply. But physical prices were pressured by thin trading as buyers were waiting to buy when prices fell, traders said. Trading in Thailand, the world's biggest rubber producer, was sluggish as high prices forced buyers to shift to buy SIR20, an interchangeable rubber grade from Indonesia, instead of Thai RSS3. Indonesia's SIR20 was traded around 92.75 U.S. cents per pound, about 18-20 U.S. cents lower than Thai RSS3. |
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zhuge_liang
Supreme |
05-Feb-2007 13:02
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Tokyo rubber futures rebounded on Monday on technical buying, supported by gains in oil prices, but the market remained volatile after its correction late last week. The benchmark rubber contract on the Tokyo Commodity Exchange for July delivery ended the morning session at 280.1 yen per kg, up 0.7% from Friday's close. Prices rebounded after a correction on Friday, when prices fell by their daily 10-yen limit as speculators and investment funds cashed in profit ahead of the weekend. U.S. crude oil futures edged higher towards US$60 a barrel on Monday, extending gains in the previous session as cold weather in top consumer the United States was forecast to continue through the week. The benchmark March NYMEX crude contract was trading around US$59.20, after settling at US$59.02 on Friday, the highest since Jan. 2. Rubber prices often benefit from high crude oil prices because investors believe expensive oil will encourage a shift to natural rubber from synthetic rubber, a petroleum product. Traders say rubber could fall this week but declines were expected to be limited due to concerns about supply tightness as wintering, when latex output declines, begins in earnest in top producing countries such as Thailand. On the physical front, prices barely changed but remained firm, buoyed by the rise in TOCOM and concerns over falling supply. But physical prices were pressured by thin trading as buyers were waiting to buy when prices fell, traders said. |
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zhuge_liang
Supreme |
02-Feb-2007 20:33
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Time to take profit around $0.115 to $0.12. Rubber futures on the Tokyo Commodity Exchange expanded losses on a late bout of selling Friday with the most active contract falling by a daily limit. The benchmark, most distant July 2007 contract settled at 278.1 yen per kilogram, suffering a maximum allowable one-day decline of 10 yen. April delivery rubber also went limit-down at the close. The remaining four contracts were down 8.9-9.4 yen from Thursday. The benchmark contract rewrote its listing-to-date low. Rubber futures fell back after two days of rise. Long liquidation grew in early trading amid fears of precariously high prices. In the afternoon, prices kept declining amid selling by bears. |
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zhuge_liang
Supreme |
02-Feb-2007 13:15
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Rubber futures fell back in early trading on the Tokyo Commodity Exchange Friday. The most distant July 2007 contract opened at 287.1 yen per kilogram, down one yen from Thursday. Buyers moved to lock in profits after two days of rise. Active buying was held in check by oil futures' weak start. Buyers were cautious about the course of the market as the July contract's upside has been capped below 290 yen despite hopes that it will soon climb to 300 yen, the level last touched in July last year on a most distant contract basis, according to a member trader. |
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zhuge_liang
Supreme |
01-Feb-2007 19:50
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Tokyo rubber futures rose on Thursday due to active buying by speculators based on healthy technicals and expectations that physical supplies would shrink in the next several months. U.S. crude oil gains the previous day offered additional support. The benchmark, most distant July 2007 contract settled at 288.1 yen per kilogram, up 2.5 yen from Wednesday. The other contracts were 1.6-3.3 yen higher at the close. The two nearest contracts for February and March climbed to new listing-to-date highs. Rubber futures made a firm start and briefly weakened after that amid buyers' liquidation to take profits. But they held steadier for the rest of the day, drawing buying on declines. |
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zhuge_liang
Supreme |
01-Feb-2007 10:56
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Rubber futures generally gained ground in early trading on the Tokyo Commodity Exchange Thursday, drawing short covering and buying by dealers.
The benchmark, most distant July 2007 contract opened at 286 yen per kilogram, up 0.4 yen from Wednesday. Five of the six contracts except the nearest February contract got off to a higher start in a firm mood carried over from the previous day. Buying was induced by oil futures' further rises, but the gains were limited. The July contract briefly dipped into minus territory after the opening. Looks like futures are trying to reach 300 yen. |
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Nostradamus
Supreme |
31-Jan-2007 21:43
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Rubber futures in Shanghai rose to their highest in more than 5 months on concerns that a seasonal dip in output from Southeast Asia may curb supply at a time of rising demand from China, the world's top consumer. Imports into China surged from 1.68 million tons in 2005 to a record 2.14 million tons last year, said Li Shiqiang, general manager at Sri Trang (Shanghai) Ltd., a unit of Singapore-based Sri Trang International Pte. A further 10% gain is expected in 2007. China's fast-growing automobile industry has been soaking up rubber from Asia, which accounts for more than 90% of global output. The natural commodity, which competes against synthetic rubber, is used for everything from tyres to gloves. The "market is tight now as we are approaching the lean production months from February to April, when seasonally Southeast Asian producers stop tapping trees," said Li. "At the same time China's demand is robust." The most active rubber contract on the Shanghai Futures Exchange, for delivery in May, gained as much as 2.9% to 22,280 yuan a ton today, and traded at 22,185 yuan at the market's midday break. That's the highest intraday price since Aug. 14, when it reached 22,745 yuan a ton. The auto industry is the biggest consumer of rubber for use in tyres. China's vehicle sales in 2006 rose 25%, surpassing Japan as the world's 2nd-largest automobile market, behind the U.S. The country plans to build 24,000 kilometres of new highway between 2006 and 2010, investing up to RMB150 billion a year, according to the Ministry of Communication's Web site. Also, tyre output has increasingly shifted to China from western countries as 9 out of the top 10 global tyre makers have set up plants in the country. |
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zhuge_liang
Supreme |
31-Jan-2007 19:26
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Rubber futures maintained strength on the Tokyo Commodity Exchange Wednesday, attracting buying on declines and short covering. The most distant July 2007 contract settled at 285.6 yen per kilogram, up 3.5 yen from Tuesday. The June 2007 contract with the heaviest open interest rose 4.7 yen to 282.7 yen at the close. Contracts from February to May grew 3.5-4.7 yen. The two nearest contracts rewrote their listing-to-date highs. Rubber futures turned higher at the start on the back of sharp gains in crude oil and oil products futures. Long liquidation became active at one point, but rubber futures held firmer on buying on declines. Prices moved upward again toward the close. Tyre-grade tracked gains in Japan but the higher prices scared off buyers and the market was abuzz with talk that many Chinese consumers had turned to cheaper domestic stocks held in the ports of Shanghai and Qindao. |
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Jennie
Member |
31-Jan-2007 17:08
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Rubber prices have certainly started to surge once again. However will we see the highs of mid-2006 again? Also, Thailand is already experiencing the dry wintering periods. Heard that prices offered for latex today are in the range of USc155 - 160/wkg. Looks like it may continue to rise. Any views on this and why? |
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shplayer
Elite |
31-Jan-2007 12:51
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After a brief pause yesterday, rubber prices seem to have resumed its uptrend. |
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zhuge_liang
Supreme |
31-Jan-2007 01:03
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Rubber futures on the Tokyo Commodity Exchange turned downward steeply Tuesday, expanding losses toward the end of the session.
The most distant July 2007 contract settled at 282.1 yen per kilogram, down 8.0 yen from Monday. The June 2007 contract sank 8.3 yen to 278 yen at the close. The remaining four contracts were 6.0-7.8 yen lower. Rubber futures were weighed down by long liquidation at the start amid concern over the recent continuous fast gains. After the opening, buying on declines grew at one point. But sentiment continued weak for the rest of the day on the back of sharp declines in oil futures. |
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zhuge_liang
Supreme |
30-Jan-2007 12:51
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Tokyo rubber futures plunged almost 2% on Tuesday on profit taking after hitting a six-month high the previous day, but healthy technicals continued to attract bargain hunters. Rubber prices were buoyed by speculative buying, led by Japanese and foreign investment funds, due to concerns over possible supply shortages as the world's top producer Thailand enters the wintering period, when output falls. "Prices are down on profit taking after recent surges, but there are many players eagerly waiting to buy on price falls," said Takashi Ogura, manager of risk management at Kanetsu Asset Management in Tokyo. "We all know that underlying fundamentals are not too good as we are seeing a lot of supplies, but funds, such as index-related funds, are buying constantly, which is keeping overall sentiment very strong," Ogura said. The most active Tokyo Commodity Exchange rubber contract for July delivery closed the morning session at 284.6 yen a kg, down 5.5 yen or 1.9% from Monday's close of 290.1. On Monday, the lead contract climbed as far as 290.6 yen, its best level since mid-July last year. It has surged more than 20% from this year's low of 235.8 yen reached on Jan. 9. July TOCOM rubber was about 2% above its nearest key moving average of around 279 yen, which is the seven-day average. "The market is looking to test 300 yen. There are many bargain-hunters willing to take new positions on price dips," Ogura said. "It looks like plenty of buyers are waiting to buy the key rubber around 280 yen." Then-benchmark TOCOM rubber reached a 26-year high of 324.5 yen in the middle of June last year. The yen's weakness in the last two week has been another key factor supporting yen-based rubber prices. The yen has been under selling pressure since the Bank of Japan refrained from raising interest rates on Jan. 18. A lower yen effectively raises the value of yen-based commodities prices, including rubber. On Tuesday, the dollar held near a four-year high against the yen as data showing soft consumer spending in Japan stirred more doubts about whether the BOJ will lift interest rates next month. |
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zhuge_liang
Supreme |
29-Jan-2007 22:46
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Rubber futures extended gains on the Tokyo Commodity Exchange Monday with all contracts climbing to new listing-to-date highs.
The benchmark June 2007 contract settled at 286.3 yen per kilogram, up 5.8 yen from Friday. The July 2007 contract ended 5.3 yen higher at 290.1 yen, after rising as high as 290.6 yen. Rubber futures made a mixed start for lack of strong pegs, but they gathered steam later as bulls took a cue from the market's underlying strength and strong gains in oil products futures. In the afternoon, liquidation to take profits grew at one point, but prices went up further toward the close. |
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zhuge_liang
Supreme |
27-Jan-2007 12:32
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Rubber futures on the Tokyo Commodity Exchange gained further ground Friday, attracting broad buying amid the newly launched contract's solid performance.
The benchmark June 2007 contract settled at 280.5 yen per kilogram, up 2.2 yen from Thursday. The new July 2007 contract ended at 284.8 yen, rising 3.2 yen from its debut price of 281.6 yen. The remaining four contracts were 2.4-3.8 yen higher. The February to April contracts climbed to new lifetime highs. Rubber futures displayed strength in the morning session in a firm mood carried over from the previous day, but they shed part of the gains toward the close as long liquidation became active for weekend repositioning. |
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shplayer
Elite |
26-Jan-2007 14:16
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Currently, Jan 07 average rubber prices is trading higher than Jan 06 average. Rubber prices traded today (26 Jan 07) is trading at about Apr06 month average......Remember, 1st half 06, rubber prices climbed and reached a peak at about Jun/Jul 06. At this rate, 1Q 07 rubber price has a good chance of bettering that of 1Q 06. |
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Jennie
Member |
26-Jan-2007 13:01
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Market seems bullish. The dry wintering period and high oil price are supporting the prices. However I am just wondering how is the situation of demand and supply? Any ideas? |
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