M’sian rubber to see steady trading this week
KUALA LUMPUR: Malaysian rubber is expected to see steady trading this week amid firm demand from tyre manufacturers, dealers said.
They said the price increase would be driven by overseas buying due to the tight supply situation in major producing countries following bad weather.
“The local mart will track closely the Tokyo futures market for clear direction,” a dealer said. (read more)
Latex Price To Drop In First Quarter 2011, Says Supermax
KUALA LUMPUR, Nov 9 (Bernama) — The price of latex is expected to drop to between RM5.60 and RM6 per kilogramme in the first quarter of 2011 as rubber tappers resume their activities, marking the end of wintering season.
Supermax Corporation Bhd, which is the world’s second largest glovemaker, said rubber tappers, those mostly in Cambodia and Vietnam, are expected to resume activities in February next year and add to the rubber supply. (read more)
Rubber in Tokyo Sets 30-Year High as Supply Lags Growing Demand
Nov. 5 (Bloomberg) — Rubber in Tokyo surged to a 30-year high and futures in Shanghai advanced to a record, on concern that supply may fall short of rising demand from tire makers as rain and flooding in Asian nations disrupted production.
The April-delivery contract on the Tokyo Commodity Exchange jumped as much as 5.7 percent to 364.8 yen per kilogram ($4,515 a metric ton), the highest level since February 1980, before settling at 361.7 yen. The contract has climbed 11 percent this week, the best performance since the week ended in Dec. 19, 2008. (read more)
Rubber Ends Three-Day Slump on Crude Oil Gains, China’s Manufacturing Data
Rubber ended a three-day decline as crude oil rose and data showed growth in China’s manufacturing accelerated, boosting speculation demand will expand from the world’s largest consumer of the commodity used in tires.
The most-active contract on the Tokyo Commodity Exchange gained as much as 0.9 percent to 329.8 yen per kilogram ($4,084 a metric ton) before settling at 327.2 yen. The contract fell as much as 1 percent earlier as Japan vehicle sales tumbled and on speculation the Japanese currency may strengthen if the Federal Reserve goes ahead with easing policies that will further debase the dollar, reducing the appeal of the yen-denominated commodity. (read more)
Global latex demand keeps expanding
HCM CITY — Global demand for natural rubber was likely to grow in the next decade, driven by economic recovery and growth, reaching 12.4 million tonnes by 2015 and 14.2 million tonnes by 2020, an expert said yesterday.
Stephen Evans, general secretary of the International Rubber Study Group, told the first international exhibition and conference on “The future of The Natural Rubber Manufacturing Industry” that opened in HCM City that demand was likely to be higher in developing countries, especially China.
Global natural rubber (NR) production was projected to reach 13.6 million tonnes in 2020, he said. (read more)