Asian Rubber Futures Settle Flat In Slow Pre-Holiday Trade
15 July 2015, 17:53 SEAST
Asian rubber futures settled flat Wednesday as production was winding down ahead of the Eid al-Fitr holidays inAsia.
Benchmark December natural-rubber futures on the Tokyo Commodity Exchange settled Y0.2 higher at Y208.8 ($1.69) a kilogram. Although slow arrivals were keeping supply tight, buyers weren’t in a hurry to buy as they were expecting producers to ramp up production in coming weeks. Bids often weren’t high enough to meet offers, keeping trade activity slow, said a Bangkok-based exporter.
International Rubber Consortium Chief Executive Yium Tavarolit said in his weekly note that the rubber market was likely to continue improving over the week after Greece reached a bailout deal with its creditors.
December Tocom rubber closed Y2.2 higher at Y211.0/kg in the night session, which is considered part of the next trading day.