Rubber mart expected to rise further

Rubber mart expected to rise further
SATURDAY, APRIL 9, 2011

The Malaysian rubber market is expected to sustain its upward momentum next week as demand continues to outstrip supply, said a dealer.
"However, the market will be quiet as buyers remain sidelined in anticipation of lower prices ahead as output was expected to pick up after the wintering season," said the dealer, adding that this could exert pressure on prices in coming months.
But prices can still sustain above the 1,500 sen per kg level, said another dealer.
On a week-to-week basis, the Malaysia Rubber Board (MRB) physical price for tyre-grade SMR 20 rose 52.5 sen to 1,573 sen per kg, from last Friday's 1,520.5 sen per kg, while latex-in-bulk added 30.5 sen to 1,098.5 sen per kg, from 1,068 sen per kg.
Meanwhile, MRB's unofficial price for tyre-grade SMR 20 increased 59 sen to 1,575 sen per kg, from 1,516 sen per kg, while latex-in-bulk gained 30 sen to 1,098 sen per kg, from 1,068 sen per kg, registered last Friday.




Tokyo rubber futures up
SATURDAY, APRIL 9, 2011


Tokyo (april 08, 2011) : key tokyo rubber futures edged higher on thursday, supported by a weaker yen and rising oil prices, though they were capped by a sluggish shanghai market and caution over a recent spike in prices. the key tokyo commodity exchange rubber contract for september delivery settled at 458.6 yen per kg, up 0.7 yen from wednesday's settlement. the contract rose as high as 464.8 yen, just below tuesday's peak of 466.8 yen, its highest since march 7.
the most active shanghai rubber contract for september delivery fell 150 yuan to close at 35,790 yuan ($5,469) per tonne on thursday. volume dropped to 448,114 lots from wednesday's 597,070 lots. technical analysts have said that while supply concerns due to a flood in no 1 producer thailand are underpinning the market in the near-term, the dry season will end soon and supply is expected to pick up while demand outlook is still unclear as japanese auto production has been disrupted by last month's devastating earthquake and tsunami in japan. an analyst at a japanese securities firm said a top-heavy shanghai rubber market was also weighing on sentiment.