Tocom Rubber Higher As Slow Production, Drought Support
21 July 2015, 09:17 SEAST
Tocom RSS3 rubber futures are slightly higher in slow trade amid the lack of fresh cues.
Although rubber is entering into the peak production season, the International Rubber Consortium says in a market report on its website that global rubber production in the second half of 2015 is likely to be slow if the weather remains dry and prices remain persistently low.
A Tokyo-based analyst says reports of a drought in largest producer Thailand is giving support.
Benchmark December rubber trades 0.3 yen higher at 215.1 yen/kg, after moving in the 213.1-216.3 yen/kg range.