|
JAKARTA, Oct 26 (Reuters): Asia's rubber markets saw new inquiries from tyre makers but with Tokyo futures softening market players are seeing a weakening in the once red-hot market.
The big rubber producers of Thailand, Indonesia, Malaysia are experiencing heavy rains, which limits cultivation in the fields. But traders know the clouds will dry up soon enough.
"Fundamentally, the rubber market is weak because the rain is just a short term effect. And once the rain is over we'll be moving into peak production in December," said one Thai trader in the southern town of Hat Yai.
In Tokyo, the benchmark March 2006 rubber contract O JRU: fell 1.5 yen per kilogramme to 194.8 yen.
|