Asian Rubber Futures Settle Flat; More Of The Same Ahead
22 July 2014, 17:50 SEAST
Asian rubber settled mostly flat in slow trade thanks to a lack of strong cues.
This will likely continue for the rest of the week because market fundamentals and sentiment won’t change, International Rubber Consortium Chief Executive Yium Tavarolit said.
Benchmark December natural rubber on the Tokyo Commodity Exchange settled Y0.1 higher at Y202.3 a kilogram.
Rubber consumption is likely to rise 3.9% this year although demand growth won’t be enough to eliminate a “substantial market surplus” which is weighing down prices, The Economist Intelligence Unit said in a report last week.
December Tocom rubber closed Y1.0 higher at Y203.3/kg in the night session which is considered part of the next trading day.