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Rubber futures on TOCOM maintained strength Tue afternoon after pulling out of a brief mid-morning retreat. The benchmark Oct '08 contract climbed 1.8 yen from Mon to 341.2 yen per kg at 3:45 p.m Tokyo time. The new Nov '08 contract stood at 342.9 yen, slightly down from its debut price of 343 yen.
Natural rubber futures in Tokyo rose for a 3rd day to the highest since Apr 1980, on speculation that China, the world's largest consumer, may increase purchases after stockpiles of the raw material fell.
Rubber gained 14% in the past year as rising demand, fueled by growth in Asia, exceeded output. China's stockpiles dropped 29% last week, the Shanghai Futures Exchange said May 23. The inventories fell to the lowest since Jan '06.
"Stockpiles may be depleted unless the Chinese step up imports," Takaki Shigemoto, an analyst with Tokyo-based commodity broker Okachi & Co, said by phone today.
Rubber for Oct delivery rose as much as 3.6% to 341.8 yen a kg (US$3,305 a metric ton) on the TOCOM, the highest for the most-active contract since Apr 21 '80. It settled at 339.4 yen.
Natural rubber demand in China increased 5.6% to 2.53 million tons last year, according to the International Rubber Study Group, a London-based research institute. Chinese demand for rubber was expanding as economic growth drives sales of cars and trucks, Shigemoto said.
Stockpiles decreased by 10,060 tons to 25,200 metric tons, based on a survey of 10 warehouses in Shanghai, Shandong, Yunnan, Hainan and Tianjin, the Shanghai Futures Exchange said May 23.
Futures also advanced as shippers in Thailand, the world's biggest exporter, increased prices of the commodity for foreign buyers because of slow production.
Thai exporters increased prices of RSS-3 grade rubber for Aug shipment to US$3.14 a kg today from US$3.10 May 23, as they don't have much to export, Shigemoto said.
Rubber output normally starts to increase in May following the end of a dry season. This year, production is not rising because of cool weather and insufficient rain, Shigemoto said.
Sep-delivery rubber on the Shanghai Futures Exchange, the most-active contract, gained 3.4% to close at 25,695 yuan (US$3,704) a ton.
Rubber futures on TOCOM moved up sharply Fri afternoon, shrugging off weakness in early trading. The benchmark, most distant Oct '08 contract climbed 6.8 yen from Thu to 326.4 yen per kg at 3:45 p.m. Tokyo time, far surpassing its previous lifetime high of 322 yen touched on Mon. The contract also broke above the previous most distant contract high of 324.5 yen, hit on Jun 13 '06. The afternoon spurt came on the heels of Shanghai rubber futures' steep rise on a bout of fresh buying, a major member trader said.
Oil prices have risen more than fourfold in 5 years.
By SR, I meant synthetic rubber. Your SBR is a grade of natural rubber (NR)?
Rubber futures on TOCOM remained higher Thu afternoon, showing resilience after a slight retreat toward the end of the morning session. The benchmark, most distant Oct '08 contract traded at 319.5 yen per kg at 3:45 p.m. Tokyo time, expanding its gain from Wed to 2.6 yen.
Light, sweet crude for July delivery rose to above US$135. Many investors believe the dollar's protracted decline over the past year has been the most significant factor behind oil's rise from about US$66 a barrel a year ago to today's highs.
This counter need to break 0.23 in order to move forward - into the uncharted area !
what's all this discussion ab rubber prices,it seems GMG is moving on its own and heading past the pre sub prime again....gd to remain >20cts for > 1 mth and price has been steady,attempting to clear 23cts convincingly
andrewpkyap ( Date: 22-May-2008 09:49) Posted:
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er... I do not know where you get your prices but as at 16 May 2008, In China SBR (non-oil grade 1502) prices soared to yuan (CNY) 21,500-22,200/tonne ($3,073-3,174/tonne)
Whereas you said ( Posted: 21-May-2008 12:43)... "SR was quoted at around US$1,200 per tonne on Tuesday"
Even if you include freight and taxes... your price cannot be off by about 70% can it?
zhuge_liang ( Date: 21-May-2008 12:43) Posted:
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Rubber futures on TOCOM were pressured by renewed selling Wed afternoon. The benchmark, most distant Oct '08 contract fell to 315.8 yen per kg at 3:45 p.m. Tokyo time, down 1.8 yen from Tue.
Oil hit a record high of US$130.80 a barrel. Its rise was given added impetus by a prediction from billionaire investor T. Boone Pickens that the price could hit US$150 a barrel in the next 6 months.
The Malaysian Rubber Board prices show a steady increase of about 100sen/kg of SMR20 in the month of May, basic grade rubber. The trend looks positive so far-just an alternative to Tocom futures, as Malaysia is closer ... :Phttp://www3.lgm.gov.my/mre/MonthlyPrices.aspx
Bad news for NR.
Thailand is expected to import 50% more SR this year as glove makers shift away from expensive natural latex, an industry executive said on 20/5.
"Most big glove manufacturers are moving to SR due to its lower price," Prachai Kongwaree, head of the Thai Rubber Glove Manufacturers Association, told Reuters.
"The proportion of SR used in the glove industry is getting bigger. It rose to 50% from around 5% in the past 3 years," Prachai said in an interview.
Thailand imported 239,058 tonnes of SR in '07, up from 219,488 tonnes in the previous year, Commerce Ministry data show.
The country's major rubber glove makers used a combined 20,000 tonnes of SR per month this year, up from 1,000-2,000 tonnes per month a year ago, Prachai said.
The price of SR, a petrochemical product, has risen in line with surging oil prices in the past year. But it is still cheaper than NR, whose price has risen even faster as strong demand and bad weather have trimmed supplies.
SR was quoted at around US$1,200 per tonne on Tuesday, compared to US$900-US$1,000 a tonne a year ago. Natural latex, which makes up about 70% of the cost of a rubber glove, has jumped to US$2,200 per tonne from US$1,650 a year ago.
NR supplies in Thailand usually rise in May when the dry season ends, but unseasonal monsoon rains this year have disrupted tapping and forced up prices.
Thailand, the world's 2nd biggest rubber glove exporter after Malaysia, was expected to produce around 20 billion pieces of rubber gloves this year, with 95% of them exported.
"With these high costs, we don't expect any growth this year," Prachai said when asked about the impact on glove exports this year.
Rubber futures on TOCOM regained strength Tue afternoon, wiping out all or part of the morning losses. The benchmark, most distant Oct '08 contract climbed 2.3 yen from Mon to 317.1 yen per kg at 3:45 p.m. Tokyo time.
Oil trekked toward US$130.
Rubber futures on TOCOM ran out of steam Mon afternoon, entirely giving up the morning gains. The benchmark, most distant Oct '08 contract traded at 317.1 yen per kg at 3:45 p.m. Tokyo time, down 0.9 yen from Fri. It reached 318.7 yen earlier in the morning.
Oil price is rising, Rubber price is rising. So GMG may rise too. But the takeover is just talk at the moment and $0.32 may not be reached. Caveat emptor. television certainly sounds like Happyday.
Beware of counter being PUMPED!
television = Happyday who pumped & dumped & was kicked out of the forum earlier.
Rubber futures on TOCOM held on to the morning gains on bull buying Fri afternoon. The benchmark, most distant Oct '08 contract rose 3.5 yen from Thu to 320.2 yen per kg at 3:45 p.m. Tokyo time.
Crude oil for June delivery surged to a new record of US$127.82 a barrel on the New York Mercantile Exchange today, after Goldman Sachs raised its forecast on speculation Chinese diesel purchases will strain supplies.
Goldman boosted its price outlook for the second half of this year to US$141 a barrel, from US$107, citing supply constraints. China may increase fuel imports to generate power after a May 12 earthquake. China just suffered another strong aftershock.
Rubber futures on TOCOM regained strength Thu afternoon, wiping out all or part of the morning losses. The benchmark, most distant Oct '08 contract climbed 0.7 yen from the previous day to 316.2 yen per kg at 3:45 p.m. Tokyo time.
Rubber futures on TOCOM gathered steam Wed afternoon, expanding gains from the morning session. The benchmark, most distant Oct '08 contract climbed 3.9 yen from Tue to 317.8 yen per kg at 3:45 p.m. Tokyo time.
Rubber futures on TOCOM expanded gains Tue. The benchmark, most distant Oct '08 contract traded at 312.7 yen per kg at 3:45 p.m. Tokyo time, up 4 yen from Mon, after rising to a new lifetime high of 313.2 yen.
Rubber futures on TOCOM held firmer Mon. The benchmark, most distant Oct '08 contract traded at 309.3 yen per kg at 3:45 p.m. Tokyo time, up 0.9 yen from Fri. The contract rose to a new lifetime high of 310.8 yen earlier.
Rubber futures on TOCOM continued small fluctuations Fri, after pushing up in early trading. The benchmark, most distant Oct '08 contract traded at 308.1 yen per kg at 3:45 p.m. Tokyo time, up 1.2 yen from the previous day.
Crude oil rose to a new peak of above US$126. The way it's rising, it may reach around US$150 in a few weeks. Rubber prices could reach around 320 yen.
Last year, NR prices did reach around 324 yen.
Rubber futures on TOCOM remained moderately lower Thu. The benchmark, most distant Oct '08 contract traded at 306.8 yen per kg at 3:45 p.m. Tokyo time, down 1.3 yen from Wed. Crude oil rose to another new peak near US$124.