There are no IRCo’s DCPs from 2 Feb. to 3 Feb. as relevant rubber markets have been closed on the Lunar New Year holidays during 2 - 8 Feb., but rubber prices on both rubber futures and physical markets continue to rise further due mainly to the news on flooding in Malaysia, anticipation and expectation of steady demand from China but tighter rubber supply after the Lunar New Year celebration, and further rises in oil prices in the wake of worsening Egyptian political confrontation. For the meantime, a strengthening Japanese yen has not much influence on rubber futures as market fundamentals and speculation on rubber futures dominate the rubber market.
| DESCRIPTION | 2 Feb | 3 Feb | CHANGE | % CHANGE | UNIT | |||||
| IRCo's DCP | - | - | - | - | US cents/kg | |||||
| TOCOM/RSS3 * | ||||||||||
| - Feb. 11 | 480.50 | 495.00 | 14.50 | 3.02% | Yen/kg | |||||
| - Jul. 11 | 472.20 | 489.90 | 17.70 | 3.75% | Yen/kg | |||||
| SHFE/RSS3 ** | - | - | - | - | Yuan/ton | |||||
| AFET/RSS3 | ||||||||||
| - Mar. 11 | 178.00 | 181.60 | 3.60 | 2.02% | THB/kg | |||||
| - Sep. 11 | 179.05 | 182.65 | 3.60 | 2.01% | THB/kg | |||||
| RRIT *** | ||||||||||
| - RSS3 | 178.80 | 180.80 | 2.00 | 1.12% | THB/kg | |||||
| - STR20 | 171.05 | 172.05 | 1.00 | 0.58% | THB/kg | |||||
| SIR20 **** | 550.75 | - | - | - | US cents/kg | |||||
| SMR20 ***** | - | - | - | - | US cents/kg |
Source: IRCo
Note: * Day sessions
** The highest daily trading volume was May 2011
*** RRIT means Rubber Research Institute of Thailand
**** Price on 2 Feb. offers, f.o.b., Asian physical rubber prices for Feb. delivery, Reuters
***** Offer, f.o.b., Asian physical rubber prices for Feb./Mar. delivery, Dow Jones
- Closed on Public Holiday
Please note that Tokyo rubber futures (Tocom) are in backwardation, and this indicates tighter current rubber supply on the rubber market. Tocom’s benchmark price for the spot month delivery on 3 Feb. settled at 495 yen/kg or around 605.87 US cents/kg while its benchmark price for Jul. delivery settled at 489.90 yen/kg or around 599.63 US cents/kg. The benchmark price for the most active May delivery on Shanghai rubber futures settled at 41,390 yuan/ton around US$6,319 on 1 Feb. These rising settlement prices give some cues to the rubber market that we will see a US$6.0 price on physical rubber markets soon because of the above mentioned reasons despite we are actually uncomfortable with too high prices.
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