Tocom Rubber Reverses Early Losses; May Move In Range
12 March 2014, 08:50 SEAST
Tocom RSS3 rubber futures are reversing early losses as Shanghai rubber has opened to trade in the positive zone.
IRCo chief executive Yium Tavarolit says in his weekly report that rubber prices are likely to fluctuate in range.
“On the production side, natural rubber production in Thailand, Indonesia, and Malaysia have declined significantly during the week mainly due to severe dry weather in the rubber belts in the three countries,” he says; however political tensions in Ukraine, as well as concerns over the health of the Chinese economy weigh.
Benchmark August rubber trades Y0.5 higher at Y235.5/kg, after moving in the Y228.5-Y237.0/kg range.