| Latest Forum Topics / GMG Global |
 Post Reply
|
|
Rubber prices
|
|
|
zhuge_liang
Supreme |
18-Apr-2007 13:40
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures fell more than 1% in a technical correction on Wednesday after the key contract failed to break through major resistance at 300 yen. Prices also fell as traders lightened their positions ahead of next week's expiry of the spot April contract on April 23. The benchmark rubber contract on TOCOM for Sep delivery ended the morning session at 294.8 yen per kg, down 1.8 yen. It fell as far as 1.1% to 293.3 yen, below the closely watched level of 295 yen, before speculative buying set in, dealers said. On charts, the key contract was cushioned at its seven-day moving average of around 293 yen. But Tokyo futures were supported by bullish physical rubber prices due to potential supply concerns after the wintering dry season. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
18-Apr-2007 01:40
|
|
x 0
x 0 Alert Admin |
Rubber futures on TOCOM displayed strength Tuesday morning but ran out of steam amid renewed selling toward the end of the session. The benchmark Sep '07 contract closed at 296.6 yen per kilogram, after surpassing 299 yen in the morning session for the first time on a most distant contract basis since July 6 last year. The closing price was down 0.6 yen from Monday. Rubber futures drew short covering in early trading in a firm mood carried over from the previous day. The Sep contract was the sole loser at the start, but it soon pushed back into plus territory. The key contract's recovery induced buying on the market as a whole. But sentiment weakened in the afternoon as long liquidation became dominant. |
| Useful To Me Not Useful To Me | |
|
|
|
|
zhuge_liang
Supreme |
17-Apr-2007 14:04
|
|
x 1
x 0 Alert Admin |
Tokyo rubber futures rose to a nine-month high on Tuesday and are likely to challenge the 300- yen level, supported by physical demand. But the market appeared overbought after jumping more than 5% in the last week and faced difficulties in breaking above the strong resistance, dealers said. The benchmark TOCOM rubber contract for September delivery ended the morning session at 299.2 yen per kg, up 2.0 yen, or 0.67%, from Monday's close. The benchmark rose as high as 299.5 yen per kg, the highest since July 6. However, traders were reluctant to buy rubber strongly after the recent gains. "There should be more buying interest in the afternoon session," one trader said. "But profit-taking was also expected as prices rose quite high over the past few days." The market would need fresh fundamental factors to move strongly above 300 yen as Japanese rubber inventories were high. The Rubber Trade Association of Japan said last week 18,844 tonnes of crude rubber was in Japanese warehouses on March 31, down about 0.6 percent from March 20, but 24 percent more than a year earlier. In the physical market, rubber prices were quoted higher, supported by the rise on TOCOM, increasing demand and limited supply, traders said. Although the wintering dry season is drawing to an close in Thailand and Malaysia, supply was likely to remain tight as rain disrupted tapping, they said. "Farmers restarted tapping as the dry season is likely to end, but rubber trees did not produce much latex and they could not go tapping as much as they wanted because of rain," a trader in Thailand's Hat Yai rubber hub said. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
17-Apr-2007 00:59
|
|
x 0
x 0 Alert Admin |
Rubber futures on TOCOM took an upturn Monday with the most active contract rewriting its lifetime high. The benchmark, most distant Sep '07 contract settled at 297.2 yen per kilogram, up 4.3 yen from Friday, after rising to a new listing-to-date high of 298.4 yen. Rubber futures drew bargain hunting at the start after Friday's late decline. Buying was also induced by gains in gold futures. Sentiment was mixed after the opening amid repositioning, but buying became dominant later. The Aug contract also rose to a new lifetime high. |
| Useful To Me Not Useful To Me | |
|
Nostradamus
Supreme |
16-Apr-2007 13:10
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures rose 1.4% on Monday, supported by active bargain-hunting based on bullish technicals, but gains were curbed as the lead contract neared a psychologically important level of 300 yen a kg. Firmness in physical rubber prices encouraged buying in TOCOM, lifting the key Sep contract as high as 297.0 yen a kg. Traders said market players were very sensitive to news about rubber supplies as the wintering dry season, when latex output falls, draws to an end in top producer Thailand. Wintering typically begins around Feb in Thailand, and farmers resume tapping by the end of Apr when the dry season ends. Traders said TOCOM prices were also supported by bullish energy prices since last week. The key contract was about 2% above its key technical line of around 290 yen, which is the 7-day moving average. The market is expected to find a resistance at this year's high of 298.7 yen reached on Feb. 14. Trading in the physical market was expected to be fairly active on Monday, despite a holiday in top producer Thailand, as Chinese buyers seek cargoes. Thailand is on holiday until Tuesday for the Thai New Year. "Supplies are tight in Malaysia and even in Thailand," a trader in Singapore said. "We expect this supply tightness to last at least another month or so before it returns to normal," he said. He said a Chinese buyer had been bidding at US$2.21-US$2.22 per kg for SMR20 last Friday. |
| Useful To Me Not Useful To Me | |
|
|
|
|
Nostradamus
Supreme |
13-Apr-2007 23:28
|
|
x 0
x 0 Alert Admin |
Rubber futures on TOCOM turned lower Friday, pressured by renewed selling toward the end of the session. The benchmark, most distant Sep '07 contract climbed to a new lifetime high of 298.1 yen per kg early in the afternoon. Then, the contract reversed course, falling to an intraday low of 292.9 yen per kg at the close, down 2.5 yen from the previous day. Rubber futures opened slightly higher on short covering in a favourable mood carried over from the previous day. Buying was also induced by oil futures' climb. Buyers moved to cash in on the gains later for fears of precariously high prices. As a result, 5 contracts from May to September slipped into minus territory at one point. Selling became dominant toward the close, hitting mainly the distant contracts. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
13-Apr-2007 13:33
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures rose to a fresh two-month high on Friday as firm fundamentals and strong crude oil prices spurred short covering. Traders were watching to see if the benchmark contract will break the key 300-yen level, which would mark the highest since July '06 and could add further upward momentum to the market. As of 0437 GMT, the benchmark TOCOM rubber contract for Sep delivery was trading up 1.6 yen, or 0.5%, at 297.0 yen per kg, after earlier peaking at 298.1 yen. Wintering typically begins around February in Thailand, and farmers resume tapping by the end of April when the dry season ends. Sukhum Wong-Ek, head of the Thailand Rubber Research Institute, told Reuters on Thursday that rubber supplies should return to normal around the end of May and peak in June. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
12-Apr-2007 20:18
|
|
x 0
x 0 Alert Admin |
Rubber futures in Tokyo, the international benchmark, jumped to a near 2-month high on speculation supply will lag behind demand. Rubber in Shanghai rose by the daily maximum limit to an 8-month high. Demand from Chinese tyremakers is helping raise prices in Shanghai, traders including Li Shiqiang said. Overseas buying pushed Tokyo rubber futures to their highest since Feb. 14, said Mutsuki Okubo at Kanetsu Asset Management. "Gains seem to be prompted by a round of physical buying in China since late yesterday," said Li, general manager at Sri Trang (Shanghai) Ltd., a unit of Singapore-based Sri Trang International Pte. "Natural rubber inventories at warehouses in Shanghai Bonded Zone are almost sold out." The most-active Sep '07 rubber contract rose as much as 5.8 yen, or 2%, to 295.5 yen a kg, the highest intraday price since Feb. 14, and closed at 295.4 yen on TOCOM. The most-active Jul rubber contract on the Shanghai Futures Exchange gained 915 yuan, or 4%, to close at 23,795 yuan (US$3,080) a metric ton. The price was settled at 23,595 yuan. The settlement price is a weighted average price for the day. "We expect the Tokyo prices to hit new highs, which will bring up the Shanghai rubber as well,'' said Lin Hui, a senior analyst with China International Futures (Shanghai) Co. The Tokyo market was also boosted by speculation a period of low production in Thailand will last longer, said Kanetsu's Okubo. The market had expected the so-called wintering period to end next week, she said. "We saw some influx of money from investment funds into rubber," said Saito, chief analyst at Interes Capital Management in Tokyo. The weaker yen against the dollar has also made rubber futures attractive to investors, Saito said. Rubber generally moves in the opposite direction of the yen, which dropped today to the weakest in more than a month. |
| Useful To Me Not Useful To Me | |
|
|
|
|
zhuge_liang
Supreme |
12-Apr-2007 12:55
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures touched an 8-week high on Thursday, staying above the key 290-yen level as firm fundamentals encouraged buying. The benchmark TOCOM rubber contract for Sep delivery ended the morning session at 293.8 yen per kg, up 4.1 yen, or 1.4% from Wednesday's close. The contract briefly touched 294.2 yen, and firm demand from China was likely to push the market higher, traders said. TOCOM prices were expected to rise after the benchmark broke the key psychological resistance at 290 yen. "Now we can feel relief that prices won't be in downward trend," a Japanese dealer said. "The next target should be 300 yen." |
| Useful To Me Not Useful To Me | |
|
Nostradamus
Supreme |
11-Apr-2007 21:13
|
|
x 0
x 0 Alert Admin |
Rubber futures on TOCOM closed higher Wednesday, drawing renewed buying toward the end of the session The benchmark, most distant Sep '07 contract settled at 289.7 yen per kg, up 2.2 yen from Tuesday. Rubber futures opened higher on repurchases on the back of broad gains in gold and oil futures. Sentiment weakened later because buyers moved to lock in profits amid fears of precariously high prices and the yen's climb against the dollar. In the afternoon, buying became active as the yen's appreciation came to a pause. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
11-Apr-2007 12:42
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures crept higher in thin trade on Wednesday as firm fundamentals encouraged buying, but the upward drive was capped by a lack of fresh news. The benchmark TOCOM contract for September delivery ended the morning session at 288.3 yen per kg, up 0.8 yen. Trading volume was thin.The benchmark briefly breached the key 285 yen support level on Tuesday, but recovered in a sign that sentiment remains firm after the contract touched a six-week high of 291.2 yen on Monday. The wintering dry season in Thailand, when latex output falls, is drawing to an end with tapping starting in some parts of the country. However, supplies of rubber were not expected to become abundant immediately. "It takes a few weeks for rubber to rejuvenate after farmers stop tapping for around one month," a trader said. Physical rubber prices were unchanged, in line with the small rise on TOCOM. Trading was thin compared to Tuesday, with some users bidding for Thai RSS3 at around US$2.30 per kg and producers reluctant to sell. Physical trade in Thailand will be closed from Friday until next Tuesday for the Thai New Year. "But some Thai traders will be off for the whole of next week and trading will be very quiet," a trader in Thailand's Hat Yai rubber centre said. Trading in Indonesia and Malaysia should be active as buyers, especially Chinese, would turn to them next week, traders said. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
10-Apr-2007 21:56
|
|
x 1
x 1 Alert Admin |
Boring like mentioned before. Rubber futures on TOCOM closed on a weak bias Tuesday amid selling in a bearish mood after Monday's late setback. The benchmark, most distant September 2007 contract ended unchanged from the previous day. Rubber futures opened lower as liquidation by buyers grew after Monday's late weakness. Buying was held in check by declines in oil futures here following U.S. crude oil futures' tumble overnight. Sentiment improved toward the morning close. As a result, the benchmark contract briefly swung back into plus territory. In the afternoon, prices fluctuated narrowly around Monday's closing levels. The April contract was the sole gainer at the close. |
| Useful To Me Not Useful To Me | |
|
|
|
|
Nostradamus
Supreme |
10-Apr-2007 13:37
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures edged lower in early trade on Tuesday after a sharp fall in crude oil prices on Monday, but recovered some ground later as investors bought on dips. The benchmark rubber contract on TOCOM for Sep delivery ended the morning session at 286.9 yen per kg, down 0.6 yen from Monday's close, after earlier falling as much as 1% to 284.4 yen. "Rubber futures fell below 285 yen briefly then bounced back, signalling that 285 is still the key support," one dealer said. "Prices should be supported by the fundamental side as it seemed like demand outstripped supply," another dealer said. The wintering dry season in Thailand, when latex output falls, is ending with farmers in some parts of the southern rubber growing areas having restarted tapping. "Although farmers started tapping in some areas, latex output was not much and rains also disrupted tapping," a trader in Thailand's Hat Yai rubber centre said. Physical prices were expected to remain firm over the next few weeks because of the rain in some parts of Thailand, they said. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
10-Apr-2007 11:20
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures slipped by about 1% on Tuesday, tracking a sharp decline in crude oil prices, but later recovered some ground as investors bought on dips. As of 0106 GMT, the benchmark Tokyo TOCOM rubber contract for Sep delivery was trading down 0.5 yen, or about 0.2%, at 287.0 yen per kg. U.S. crude futures fell more than 4% on Monday, extending losses after Iran released British sailors and marines last week, defusing geopolitical tensions and easing concerns over supplies from the world's 4th largest oil exporter. NYMEX crude for May delivery |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
09-Apr-2007 22:34
|
|
x 1
x 1 Alert Admin |
Most Asian physical rubber prices were quoted higher in quiet trade on Monday, tracking rising futures contracts on the Tokyo Commodity Exchange. A few Chinese buyers were taking more Indonesian SIR20 for May and June shipments, but most European and American tyre-makers were still on Easter holiday, traders said. "Trading was thin last week and I think it will be active again late this week when all traders get back from the holidays," one trader said. Boring. Most traders are still on Easter holiday, expect trading to be thin and lasck lustre until the end of the week. Rubber futures on the Tokyo Commodity Exchange ran out of steam in late trading Monday, shedding part of the early gains amid renewed selling. The benchmark, most distant Sep '07 contract closed at 287.5 yen per kilogram, up 2.6 yen from Friday, after rising to a new lifetime high at 291.2 yen in the morning. Bears moved for short covering at the start in a firm mood carried over from Friday's late advance. Rubber futures also drew support from gold futures' climb on the back of a weak yen on exchange markets. Prices were slightly weighed down by long liquidation late in the morning. Rubber futures were pressured by selling toward the end of the session. |
| Useful To Me Not Useful To Me | |
|
Nostradamus
Supreme |
09-Apr-2007 13:31
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures rose more than 2% to a 6-week high on Monday as a softer Japanese yen provided fresh fuel for a rally started last week. The benchmark rubber contract on TOCOM for Sep delivery ended the morning session at 290.1 yen per kg, up 5.2 yen from Friday's close. It rose as high as 291.2 yen, a gain of 2.2%, in early trade, the highest since Feb. 26 when it hit 293.4 yen. The dollar held its broad gains, staying near a 6-week high at 119.38 against the yen after Friday's robust U.S. jobs report helped reinforce the view that the Federal Reserve was unlikely to cut interest rates in the near term. "A softer yen fuelled buying interest and prices were still supported by buoyant physical prices too," a trader said. In the physical market, most Asian physical rubber prices were quoted higher in quiet trade on Monday, tracking the rise on TOCOM. "Physical prices should remain high as supply is not a 100% back to normal," a trader in Thailand said. Dealers in Thailand's southern city of Hat Yai said they believed the wintering dry season had virtually ended in parts of Thailand and Malaysia. "But most farmers will start tapping again by the end of April. Then supply would increase gradually," one said. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
05-Apr-2007 21:39
|
|
x 0
x 0 Alert Admin |
Rubber futures on TOCOM lost further ground in a wait-and-see mood Thursday. The benchmark, most distant Sep '07 contract settled at 280.9 yen per kilogram, down 4.2 yen, after briefly slipping below 280 yen. Rubber futures were mixed in early trading amid selling by players discouraged by Wednesday's weak performance and buybacks on gains in gold and oil futures. Trading was lethargic for lack of fresh pegs specific to rubber. From late morning to afternoon, selling became dominant in a bearish mood. |
| Useful To Me Not Useful To Me | |
|
arise2257
Member |
05-Apr-2007 13:14
|
|
x 0
x 1 Alert Admin |
Thanks Nostradamus for the info. |
| Useful To Me Not Useful To Me | |
|
Nostradamus
Supreme |
05-Apr-2007 13:00
|
|
x 0
x 0 Alert Admin |
Hi arise2257, Dividend : $0.005 1st & final one-tier tax payable on 21/5. Ex-date is 7/5. Record date is 9/5. |
| Useful To Me Not Useful To Me | |
|
zhuge_liang
Supreme |
05-Apr-2007 12:46
|
|
x 0
x 0 Alert Admin |
Tokyo rubber futures dropped 1.2% on Thursday, retreating from a 5-week high earlier this week under pressure from a decline in crude oil prices. The benchmark TOCOM rubber contract for Sep delivery <0#JRU:> ended the morning session at 281.5 yen ($2.37) per kg, down 3.6 yen, or 1.2 percent lower from Wednesday's close at 285.1 yen. Selling interest was also fuelled by stop-loss selling after prices fell below the key support of 285.0 yen, dealers said. Investors preferred to lock in profits with crude oil falling as tensions eased between Iran and the West, analysts said. U.S. crude oil futures fell to around $64.25 a barrel on Thursday as Iran said it would free British service personnel captured in late March, easing worries about oil supplies from the world's fourth-biggest exporter. That compared with $64.38 in New York on Wednesday and a March high above $68. "It's no good if prices fall below 280 yen. That would trigger another big round of stop-loss selling," a dealer said. Another factor weighing on the TOCOM market was easing concerns about tight supply. Rubber stocks in Tokyo and Shanghai have been on the rise and the end of the wintering dry season is approaching in Thailand. The wintering season usually ends by the middle of April and rain has started falling in some parts of Thailand's south, the country's main rubber growing area, signalling that supply should get back to normal. |
| Useful To Me Not Useful To Me | |