* Bridgestone buys Thai RSS3 at $2.49/kg
* SIR20 sold at 103.00 and 103.50 cents/lb
* Trade discounts talk on China's purchases
By Lewa Pardomuan
SINGAPORE, Nov 27 Tyre makers bought some Thai
rubber for January shipment and other grades were also sold
among trading houses this week, but weakness in Tokyo futures
weighed on prices, dealers said on Wednesday.
Benchmark rubber futures on the Tokyo Commodity Exchange
(TOCOM) set the tone for tyre grades, but the contracts are
often influenced by macroeconomics, currencies, equities and
even the price of crude oil.
The most active contract, currently May, fell on
Wednesday to a 2-week low of 256.6 yen a kg, tracking declines
in the Nikkei and other financial markets. The sixth-month
contract has fallen more than 14 percent this year.
Bridgestone the world's largest tyre maker, bought
Thai RSS3 at $2.49 a kg for January delivery. The grade was also
sold among trading houses and other tyre makers at $2.48 without
freight late on Tuesday, down from as high as $2.51 last week.
"Bridgestone has been in the market occasionally, but I am
not chasing them," said a dealer in Thailand.
"The quantity is also not much. It's just normal buying. The
STR20 market is very quiet. China is avoiding the market
apparently. There are offers at $2.40, but I don't think anybody
Thai STR20 rubber was sold to main consumer China at $2.37
and $2.38 a kg, including freight, last week. Dealers have
discounted talk that China may buy more rubber for state
reserves after buying 54,000 tonnes of RSS grade in late
Indonesia's SIR20 rubber was sold to dealers in Singapore at
103 and 103.50 U.S. cents a pound ($2.27 and $2.28 a kg) for
January delivery, down from 104 and 104.50 cents last week.
Bridgestone, which last week bought SIR20 at 104.00 and
104.75 cents for January and March respectively, was absent.
Malaysia's SMR20 was traded to unspecified buyers at $2.36 and
$2.37 a kg, down from $2.40 last week.
Dealers expect tyre grades to track movements in the Tokyo
market next week.