VOL NO REGD NO DA 1589

Sunday, October 30, 2005

HEADLINE

POLITICS & POLICIES

METRO & COUNTRY

VIEWS & REVIEWS

EDITORIAL

LETTER TO EDITOR

COMPANIES & FINANCE

BUSINESS & FINANCE

LEISURE & ENTERTAINMENT

MARKET & COMMODITIES

SPORTS

WORLD

 

FE Specials

FE Education

Urban Property

Monthly Roundup

FE IT

Saturday Feature

Asia/South Asia

 

Feature

13th SAARC SUMMIT DHAKA-2005

WOMEN & ECONOMY

57th Republic Day of India

US TRADE SHOW

 

 

 

Archive

Site Search

 

HOME

MARKET & COMMODITIES
 
Pinched rubber producers seen supporting prices
10/30/2005
 

          JAKARTA, Oct 29 (Reuters): Asian rubber prices were steady Friday but supported by expectations producers will not drop their offer levels since raw material costs are near selling prices.
Supplies coming to market will tighten next week as persistent rain in Thailand and one-week Muslim festival holiday in Indonesia and Malaysia, providing price support.
"Producers are not going to drop their prices. They're getting no material next week and their factories shut down. Physical prices are not moving anywhere next week," said a Singapore dealer.
Major tyre makers have been covering their needs for nearby shipments recently and China has been seen bargain-hunting.
Top Japanese tyre maker Bridgestone Corp. bought Thai RSS3 rubber sheet for January shipment overnight at $1.65 a kg.
On Friday, offers for RSS3 were virtually unchanged on the day, while buyers were bidding at $1.64 a kg. Offers for tyre- grade Standard Thai Rubber, or STR20 block, for December and January shipment were flat at $1.67 a kg.
The most active March 2006 rubber O JRU: contract on the Tokyo Commodity Exchange fell to a low of 186.8 yen per kg before rebounding to 191.8, up 3.2 yen, by Friday's close. March had dropped around three per cent since Monday. Other contracts rose between 0.5 and 3.6 yen.
Supplies in Thailand, the world's top producer and exporter of rubber, have shrunk because of the rainy season in the key growing south area that began this month and is likely to last until the end of November. The heavy rains hamper cultivation.

 

 
  More Headline
Oil rebounds, platinum hits 25-year high
Pinched rubber producers seen supporting prices
Private equity groups awash with debt offers
China's poultry markets hit by bird flu scare
Brazil sugar sector lauds WTO, sees gains in 2006
North Korea holds int’l commodity exhibition
French consumer gloom proves tough nut to crack
China to curb expansion in copper smelting industry
 

Print this page | Mail this page | Save this page | Make this page my home page

About us  |  Contact us  |  Editor's panel  |  Career opportunity | Web Mail

 

 

 

 

Copy right @ financialexpress.com