Tocom Rubber Down Even As Qingdao Stocks Fall
25 September 2014, 09:23 SEAST
Tocom RSS3 rubber futures are lower as market sentiment remains lackluster amid forecasts of a supply surplus this year.
Despite a decline in Qingdao stocks, prices are getting little upside as investors are likely assessing the data.
International Rubber Consortium chief executive Yium Tavarolit says the fall in stockpile could mean that China’s demand is steady, or that China’s rubber trade participants have not been able to obtain credit for their imports.
Benchmark March Tocom rubber is down Y0.6 at Y182.8/kg, after moving in the narrow Y182.4-Y186.4/kg range.