Asian Rubber Settles Lower


7 May 2015, 17:45 SEAST


Asian rubber futures settled slightly lower Thursday amid a high-level meeting in Kuala Lumpur attended by industry officials and ministers from the Association of Natural Rubber Producing Countries.


International Rubber Consortium Chief Executive Yium Tavarolit said in his weekly note that the meeting was expected to conclude with measures and strategies to improve weak rubber prices.


Benchmark October natural rubber futures on the Tokyo Commodity Exchange settled Y0.6 lower at Y222.4 a kilogram in relatively slow trade with just about 10,000 lots changing hands compared with more than 20,000 lots last week. An industry event in Thailand Friday evening was also keeping traders busy.


October Tocom rubber closed Y1.5 lower at Y220.9/kg in the night session, which is considered part of the next trading day.