Tokyo rubber ends lower
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Tokyo rubber inched down on Friday along with other commodities, but crude oil at above $90 a barrel still supported prices.
The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery slipped 0.3 yen to 273.9 yen ($2.49) per kg.
SPOT SLIPS
In the physical market, rubber prices slipped due to the TOOCM falls and improving supply in Thailand, the world’s biggest producer. Trading was active, with more buyers shifting to Thai STR 20 and RSS 3 as prices fell, traders said. “Indonesia has not much supply this month and falling prices of Thai SRT 20 could draw buyers’ attention this week” a trader in Thailand’s Hat Yai rubber centre said. The rainy season in Indonesia, set to run through April, had cut supply and forced producers to sell only small lots, traders said.
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Source : Business Line |
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