The same relatively high closing happened to Shanghai Futures Exchange (SHFE)’s RSS3 of the benchmark May 2011, which settled at CHY38,200 a metric ton. Agriculture Futures Exchange of Thailand’s RSS3 (AFET) for the benchmark August 2011 also closed lower at THB163.6 a kilogram.
| DESCRIPTION |
| 12 JAN |
| 13 JAN |
| CHANGE | % CHANGE |
| UNIT | |
| IRCo's DCP | 530.01 | 531.09 | 1.08 | 0.20% | US cents/kg | |||||
| TOCOM/RSS3 * | ||||||||||
| - Jan. 11 | 441.50 | 444.50 | 3.00 | 0.68% | Yen/kg | |||||
| - Jun. 11 | 449.10 | 448.40 | -0.70 | -0.16% | Yen/kg | |||||
| SHFE/RSS3 ** | 38,295 | 38,200 | -95.00 | -0.25% | Yuan/ton | |||||
| AFET/RSS3 | ||||||||||
| - Feb. 11 | 164.20 | 164.20 | 0.00 | 0.00% | THB/kg | |||||
| - Aug. 11 | 165.00 | 163.60 | -1.40 | -0.85% | THB/kg | |||||
| RRIT *** | ||||||||||
| - RSS3 | 163.30 | 165.05 | 1.75 | 1.07% | THB/kg | |||||
| - STR20 | 160.00 | 162.05 | 2.05 | 1.28% | THB/kg | |||||
| SIR20 **** | 531.50 | 531.00 | -0.50 | -0.09% | US cents/kg | |||||
| SMR20 **** | 528.50 | 528.00 | -0.50 | -0.09% | US cents/kg |
Source: IRCo
Note: * Day session
** The highest daily trading volume was May 2011
*** RRIT means Rubber Research Institute of Thailand
**** Offer, f.o.b., Asian physical rubber prices for Feb./Mar. delivery, Dow Jones
This is reasoned by most investors retreated the holding positions to rip some locked profits from the market’s recent gains. The demand–and–supply fundamentals are still intact and effectively rule the rubber markets.
Emerging economic nations like China and India driven by its lively growing automobile industry are causing major tire manufacturing companies to keep pace with a robust tire demand. Replenishing the stocks force many to buy rubbers even at the record raw material price.
Scarce rubber material is being expected by many rubber-trading participants to be prevailing during the Lunar New Year in the coming early February and the coming annual dry wintering season (or a leaf-shedding season) in major producing countries; which will normally cause a low yield of NR production.
(Source: http://www.irco.biz/BlogMoreDetial.php?id=2721&ShowContent=news)
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