Asian Rubber Futures End Up; Expected To Rise Into 1Q Of 2015
29 October 2014, 18:03 SEAST
Asian rubber settled mostly higher Wednesday, boosted by recent price-supportive moves by major producers.
Yium Tavarolit, chief executive of the International Rubber Consortium, said rubber prices were likely to rise through the low-output wintering season in the first quarter of 2015 as market fundamentals and sentiment have improved on producer action, and as supply had fallen in the first nine months of 2014 due to presistent depressed prices.
Benchmark natural rubber futures on the Tokyo Commodity Exchange settled 1.1% higher at Y199.5 a kilogram and managed to breach the psychological Y200/kg level to close at Y201.1/kg in the night session, which is considered part of the next trading day.