NR Markets close little changed
Tocom open flat , at 277 yen/kilo,and just drifted sideways on another day of thin trading. Less than 5000 lots traded for the day. The evening session also saw no change. The new born June contract opened the day at 279.6 and ended at 278.2
Shanghai opened a tad lower at 25,200 rmb and closed 25,225 rmb - down 50 rmb.
SICOM also followed, opening about unchanged. Market was mixed during the day, in light trading to close Rss3 up 2.0 to down 2.8 usc/kg and Tsr20 up 0.4 (on the Nears) to down 2.9 usc/kg (on the Forwards).
RCMA Americas will be closed tomorrow - 23rd December, and reopen on the 26th December. We wish every one a Great Holiday Season.
DJ Asian Rubber Settles Down In Slow Trade; Euro-Zone Jitters Weigh
SINGAPORE (Dow Jones)--Asian rubber settled mostly lower Thursday amid fears that the European Central Bank's massive lending to euro-zone banks won't solve the region's debt crisis. Prices of rubber futures were rangebound in slow trade across most exchanges ahead of holidays.
Natural rubber futures on the Tokyo Commodity Exchange settled lower ahead of a public holiday Friday, with the previous benchmark May contract down Y1.6 at Y276.3 a kilogram. The new benchmark June contract opened at Y279.6/kg and settled at Y278.3/kg.
Bangkok-based DS Futures analyst Chaiwat Muenmee said there may still be some upside for Tocom next week from technical cues and supply concerns, as it is raining in parts of south Thailand.
"I think there is opportunity for Tocom to test Y280/kg resistance," he said.
June Tocom rubber edged down to close Y0.1 lower at Y278.2/kg in the night session, which is considered part of the next trading day.
Natural rubber on the Shanghai Futures Exchange settled 0.4% lower amid cautious sentiment.
Physical rubber prices were mixed.
"Everyone's in a holiday mood, but demand overall is not too bad; you can still try to negotiate for higher prices if the seller bids low, because some buyers really need rubber," a major exporter in Bangkok said.
-By Huileng Tan, Dow Jones Newswires, +65 6415 4083; firstname.lastname@example.org
--Yue Li in Shanghai contributed to this article.
(END) Dow Jones Newswires 12-22-11 0548ET
Copyright (c) 2011 Dow Jones & Company, Inc.