Asian Rubber Futures End Mixed In Wild Market
9 July 2015, 17:26 SEAST
Asian rubber settled mixed Thursday in volatile trade tracking price swings in the broad Chinese market.
Benchmark December natural rubber on the Tokyo Commodity Exchange settled 3.9% higher at Y209.6 a kilogram on a strong comeback in Chinese equities after sharp losses earlier. Also helping was the yen, which is weakening intraday against the greenback.
Traders were stumped by the roller-coaster ride in the broader markets and are on the sidelines awaiting for steadier prices. “No buyers, no sellers; it’s far too volatile,” said a major exporter in Thailand.
International Rubber Consortium Chief Executive Yium Tavarolit said in his weekly note that prices were likely to remain choppy as there no fresh cues to give investors clear direction.
December natural rubber closed Y1.3 lower at Y208.3/kg in the night session, which is considered part of the next trading day.