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Rubber prices
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zhuge_liang
Supreme |
26-Jan-2007 12:34
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Offers for physical rubber prices rose again in line with the bullish trend on TOCOM and due to supply worries caused by rains in some parts of Indonesia, traders said. "There is less rain but we cannot say that supply is OK," said an Indonesian trader. Trading in Indonesia and Malaysia was active, compared with Thailand, while some dealers in Singapore bought SIR20 and SMR20 from the two countries to supply end users in Europe and the U.S., traders said. In Thailand, trading was sluggish as higher prices forced buyers to stay on the sidelines. "Thai traders don't want to sell at lower prices," a trader in Indonesia said. "That's why buyers are flee them to the others." Traders said physical trading should be more active next week, as Chinese buyers increase activity ahead of the Lunar New Year. |
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zhuge_liang
Supreme |
26-Jan-2007 12:04
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Tokyo rubber futures extended gains on Friday to hit a roughly six-month high as a weaker yen and strong fundamentals spurred buying. Market participants say, however, that prices are due for a correction, given their recent sharp rise. The benchmark Tokyo Commodity Exchange rubber contract for July delivery, which debuted on Friday, closed the morning session at 284.3 yen per kg, up 2.7 yen.It rose as high as 284.4 yen in the morning session, the highest level for a benchmark contract since mid-July. "Traders are buying because physical demand is there, so there is no doubt that the trend is to go higher," one broker said. TOCOM rubber prices are up more than 18% from this year's low of 235.8 yen reached on Jan. 9. It is up about 50% since they plunged to a roughly one-year low of 185.5 yen on Nov. 24. "The pace at which the price is rising suggests that it could top 300 yen, but to reach that level it will have to go through a technical correction," he said. The yen slumped across the board on Friday after slightly softer consumer price figures cast doubt on whether the Bank of Japan will raise rates next month. A weaker yen against the dollar makes yen-denominated commodities more expensive in the dollar-billed export market, and often helps boost TOCOM prices. The dollar climbed to around 121.60 TOCOM rubber has been boosted by scarce supplies as wintering begins in certain parts of top producer Thailand. The wintering dry season is the time of the year when rubber tree leaves fall and latex output declines. |
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Nostradamus
Supreme |
25-Jan-2007 21:37
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The June TOCOM rubber contract finished the session up 2.8 yen, at 275.5 yen. |
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johnsmith
Member |
24-Jan-2007 15:34
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really? seems to be moving in tandem with rubber prices....ie its fundamental business..... |
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propofol
Member |
24-Jan-2007 14:11
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this is a lousy counter.there are so many other better counters out ther. pure speculation and manipulation. |
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zhuge_liang
Supreme |
24-Jan-2007 13:49
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Tokyo rubber futures extended gains on Wednesday, breaking through key resistance at 280.0 yen on the back of firm fundamentals and a jump in oil prices. The benchmark June rubber contract on the Tokyo Commodity Exchange ended the morning session at 281.8 yen per kg, up 5.4 yen, or 2%, from Tuesday. It rose as high as 282.2 yen, the highest since Aug. 3, when the contract hit 282.7 yen. The prompt January contract is due to expire on Thursday. Prices were expected to challenge the next resistance at 300.0 yen if there was no technical correction somewhere around 290.0 yen, dealers said. "Players believe that rubber futures are in a bullish trend," a dealer in Tokyo said. "Fundamental support plus technical buying and support from oil prices could push prices up significantly," another trader said. 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 petrochemical product. Oil prices jumped more than 4% to US$55 a barrel on Tuesday as the United States, the world's top consumer, announced plans to build up its emergency crude reserves and colder weather there pushed up demand. Rubber's fundamentals are expected to be solid with the early start of the wintering day season in Thailand, the world's top rubber producer. The dry season, when latex production falls, has already hit the east and some parts of the upper south, earlier than in a typical year, said traders in Thailand's Hat Yai rubber centre. Prices of physical rubber rose along with TOCOM. Traders said they were reluctant to sell and were holding out for higher prices. Many buyers were waiting for dips on TOCOM which should push physical rubber prices lower, they said. "Buyers offered to buy SMR20 at US$2.04," a Malaysian trader said. "We waited for a while then finally we could sell at US$2.05 per kg," he added. |
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Nostradamus
Supreme |
24-Jan-2007 13:29
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Asian physical rubber prices jumped on Wednesday, supported by a nearly 2% rise in futures contracts on the Tokyo Commodity Exchange. Traders said they were reluctant to sell rubber and were holding out for higher prices as TOCOM stayed above 280.0 yen. Many buyers were waiting for dips on TOCOM which should push physical rubber prices lower, they said. Short term, I see it rising. |
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ed88ks
Senior |
23-Jan-2007 02:53
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does it all mean this counter will take off? GMG? |
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zhuge_liang
Supreme |
22-Jan-2007 23:23
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The June TOCOM rubber contract finished the session up 3.8 yen, at 263.2 yen. |
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Nostradamus
Supreme |
19-Jan-2007 11:55
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Asian physical rubber prices were barely changed on Friday despite a fall on the Tokyo Commodity Exchange which sets global trends. Traders said the decline on TOCOM would not last long and rubber prices should remain on a bullish trend due to firm demand and expectations of supply dropping over the next few months. |
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zhuge_liang
Supreme |
18-Jan-2007 12:40
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Tokyo rubber futures rose again on Thursday, hitting a five-month intraday high as the key futures contract broke through resistance at 270 yen after persistent fund buying. The benchmark rubber contract on Tokyo Commodity Exchange for June delivery ended the morning session at 270.8 yen per kg, up 3.3 yen from Wednesday's close. It rose as high as 271.5 yen, the highest since Aug. 4 due to heavy fund buying after prices rose above the closely watched level of 270 yen, dealers said. TOCOM prices have been driven up by technical factors for several weeks and dealers expect some correction over coming days. "The momentum doesn't look so strong today as the June contract failed to rise further and is hovering around 270 yen," an analyst at a Japanese brokerage said. "The market should take a short break after recent rallies," a dealer in Tokyo said. "Prices could be consolidated for a while and would get back to the bullish trend again supported by supply worries," a dealer in Singapore said. After a correction, prices should rebound as Thailand, the world's biggest rubber producer, would enter its dry wintering season in late February, when production falls, dealers said. Wintering, during which rubber trees shed leaves and produce less latex, usually lasts until the end of March. On the physical market, prices were little changed in early trade on Thursday, but stayed high as TOCOM contracts rose again, traders said. Prices were supported orders from Chinese buyers as they started buying SIR20, the cheapest rubber, ahead of the Lunar New Year next month, they said. "The Chinese began to buy again, maybe because they realised that prices would not drop lower over the next few weeks and they needed to buy ahead of the holiday," a trader in Singapore said. |
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zhuge_liang
Supreme |
18-Jan-2007 11:54
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Asian physical rubber prices moved little in early trade on Thursday, but stayed high as futures contracts rose again on the Tokyo Commodity Exchange, traders said. Prices were also supported orders from Chinese buyers as they started buying SIR20, the cheapest rubber, ahead of the Lunar New Year next month, they said. |
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Jennie
Member |
17-Jan-2007 17:38
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Rubber prices are increasing steadily probably due to the rain in Thailand and Malaysia, forthcoming wintering of rubber trees and speculation that China will start buying again to stock up before the Lunar New Year. We also see a big jump in volume traded on Shanghai Futures yesterday at 819,000 (16/01) as compared to volume traded on 15/01 at 420,988. Buyers are probably buying on dips which drove up the volume. Tocom's benchmark month June contract may very likely hit 270 yen tomorrow or end of this week. Do we see fundamentals playing a role here? |
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zhuge_liang
Supreme |
17-Jan-2007 12:06
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Asian physical rubber prices were steady on Wednesday but still buoyant as the rise in Tokyo Commodity Exchange rubber futures lent support despite thin physical demand, traders said. Buyers were waiting for prices to drop, they said. |
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zhuge_liang
Supreme |
17-Jan-2007 10:59
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Vietnam's natural rubber exports this year are forecast to rise 7% to 750,000 tonnes as new markets open in Europe and a lower proportion of exports will go to China, an industry official said on Tuesday. Vietnam's production is expected to rise 9% from 2006 to reach a maximum of 600,000 tonnes this year, and it would try to expand sales to Russia and the Czech Republic, Tran Thi Thuy Hoa, General Secretary of the Vietnam Rubber Association, told Reuters. "While the Chinese market has been consuming rubber strongly, we want to export only 60% of our rubber to China this year, from 65% last year, in order to sell to Europe, especially those in eastern Europe," Hoa said by telephone from Ho Chi Minh City. Apart from sales to China, Vietnam shipped the commodity to the United States, South Korea, Taiwan, Singapore and Japan, mostly via Saigon Port in Ho Chi Minh City. "It would be ideal if we manage to raise our sales to these buyers to 40% this year," Hoa said. The rubber association is working on several programmes to attract new European importers, including joining an international tyre and rubber fair in Russia in March, she said. Vietnam ships more than 80% of its latex output and also buys raw rubber from Thailand, Indonesia, India and Cambodia for re-export. "Sales to China have been profitable as we have good prices from a low transportation fee and China is seen buying all kinds of Vietnamese rubber," Hoa said. The selling prices for SVR3L, Vietnam's most common rubber grade for export, rose 9.2% from December to 15,400 yuan per tonne last week at Mong Cai northern border gate with China thanks to higher demand there. Last year latex output from Vietnam, the world's fourth-largest exporter of natural rubber, rose 13.4% on 2005 to 546,100 tonnes, following a 6% expansion in planting area to 512,000 hectares, government statistics show. Rubber is Vietnam's second-highest export earner among the agro-products after rice. Last year revenues surged 58.3% on 2005 to hit $1.27 billion, the government said. Vietnam's rubber output will decline between February and April to allow rubber trees to rejuvenate. The halt should help reduce impact of the dry weather forecast to strike the key southeastern growing region in March and April, Hoa said. "When latex collection resumes in May, production could ease slightly because of the adverse weather but overall the output from this period can only contribute 15% at most to annual production," she said. Tasked to grow 100,000 hectares (247,100 acres) of rubber each in Laos and Cambodia by 2020, Vietnam has planted at least 16,000 hectares on leased land in Laos since 2005, Hoa said. "We have also been talking with Cambodia and this project should go well as Cambodia has land and it needs our technology and experience," she said, adding that trading with Cambodia, a member of the World Trade Organisation, has become easier now. Vietnam joined the global trading club as its 150th member on 11/1. |
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mirage
Veteran |
17-Jan-2007 09:14
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GMG is moving up with high volumes today, already up 0.12, up up up and away. |
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mirage
Veteran |
17-Jan-2007 09:14
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GMG is moving up with high volumes today, already up 0.12, up up up and away. |
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mirage
Veteran |
17-Jan-2007 09:14
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GMG is moving up with high volumes today, already up 0.12, up up up and away. |
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zhuge_liang
Supreme |
16-Jan-2007 17:33
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Tokyo rubber futures edged lower on Tuesday as profit taking prevented prices rising above key resistance at 270.0 yen. The benchmark rubber futures on Tokyo Commodity Exchange for June delivery settled at 262.0 yen per kg, down 1.6 yen from Monday's close. The key contract's prices rose as high as 268.4 yen, the highest since Aug. 11, but profit taking by bargain hunters limited gains, dealers said. "There was heavy buying from players who needed to stop losses, cover short positions, which pushed prices up in the afternoon session," a dealer in Tokyo said. "But they all succumbed to profit taking at the end of trading," he said. TOCOM prices had little to do with fundamentals, fuelled instead by a wave of short covering, a Tokyo-based brokerage analyst said. "Prices fell, but not sharply, and could stay above 260 yen. That's a signal that it's just a correction, not a downward trend," a trader in Singapore said. "If prices could stay above 270 yen then we could see them reaching 280 yen," he said. On the physical front, prices were also higher due to supply worries as floods in Malaysia, the world's number 3 rubber producer, disrupted transport. Traders there said the situation was improving gradually as rain stopped, but it would take a few days for the floodwaters to recede. |
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zhuge_liang
Supreme |
15-Jan-2007 13:59
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Tokyo rubber futures rose to a five-month high on Monday as rises in other commodity futures spurred speculative buying. The benchmark rubber contract on the Tokyo Commodity Exchange for June delivery ended the morning session at 261.7 yen per kg, the highest since Aug. 14 and up 8.1 yen from Friday's close. "Players took speculative buying positions," a dealer in Tokyo said. "They bought quite heavily." The June rubber contract has risen more than 10% from this month's low of 235.8 yen on Jan. 9. Dealers attributed the rise to the firmness of other commodity futures, especially gold which jumped more than 1.5% on Monday as a surge in cash prices prompted Japanese investors to shift new funds into the metal. On the physical front, prices rose in line with TOCOM, but trading was not as bullish with China, the world's biggest rubber consumer, reluctant to buy at high prices, traders said. In Thailand, the world's biggest rubber producer, trading was steady with a flow of orders from tyre-makers but no big deals with Chinese buyers, traders in the Hat Yai rubber centre said. Some dealers said they expected the Chinese to buy SIR20 grade from Indonesia, the world's number two rubber producer. "Chinese buyers are in the market checking prices of SIR20," a trader in Singapore said. "Their idea of price was around 0.83 U.S. cents per pound, which was quite low," another trader said. |
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