Posted on 06 Jan 2012
NR Markets close the week with little change
A rather quiet day, with Tocom trading only 4,918 lots in the day session. Tocom opened almost unchanged from yesterday, at 265 yen/kilo, but started climbing on the back of a slightly weaker yen and a slightly steadier Shanghai. It closed the day session at 267.9 yen/kilo; and the evening session saw little change ending at 267.8 yen/kilo.
Shanghai opened at 24,305 rmb (down 115 rmb) and edged higher on pre-weekend covering, to close the day at 24,610 rmb (up 210 rmb). Later in the day, there were also announcement from PBOC (Peoples Bank of China) that they would halt bill sales, to inject money into the market, in order to help alleviate the liquidity crunch, ahead of the Chinese New Year. This news seemed to have had little impact on the Market.
SGX-Sicom edged marginally higher in subdued trading, with Rss3 up 0.7 to 3.0 usc/kg and Tsr20 up 0.3 to 1.7 usc/kg.
DJ Asian Rubber Mixed; Parts Of Thailand To Start Wintering Soon
SINGAPORE (Dow Jones)--Asian rubber settled mixed Friday as the euro-zone debt crisis worried investors yet again, but supply disruptions caused by heavy rain and flash flooding in south Thailand are expected to limit any downside in the near term.
Benchmark June natural rubber futures on the Tokyo Commodity Exchange settled Y0.2 lower at Y267.9 a kilogram. Many investors stood on the sidelines ahead of U.S. jobs data due later in the global day and a long holiday weekend for the exchange. Tocom will be closed Monday for a public holiday.
Traders are monitoring rainfall in major rubber-producing regions for any further disruption to tapping and transportation as the low-production season approaches.
Rubber trees in northeastern and eastern Thailand have shed most of their leaves--a sign that the low-output wintering season is drawing near, traders in Thailand said. The regions produce 20%-30% of Thailand's natural rubber.
A senior executive at a major exporter says tapping may grind nearly to a halt by the start of Lunar New Year, on Jan. 23, earlier than the usual mid-February onset of wintering.
June Tocom rubber slipped Y0.1 lower to Y267.8/kg in the night session, which is considered part of the next trading day.
Natural rubber on the Shanghai Futures Exchange settled higher, tracking Chinese equities markets.
Physical rubber prices were little changed in active trade, with China back in the market, sourcing for prompt shipments before the Lunar New Year, traders said.
Raw material was still limited in Thailand, where heavy rain and flash floods first struck the nation's major producing region in the south last week.
...
-By Huileng Tan, Dow Jones Newswires; +65 6415 4083; huileng.tan@dowjones.com
--Yue Li in Shanghai contributed to this article.
(END) Dow Jones Newswires 01-06-12 0557ET
Copyright (c) 2012 Dow Jones & Company, Inc. 05:57 010612