* Bridgestone chases Indonesian grade; RSS reported traded
* Prices higher after rally in TOCOM
* Market ignores anti-government protests in Thailand
By Lewa Pardomuan
SINGAPORE, Dec 4 Bridgestone Corp, the
world's largest tyre maker, bought Indonesian rubber for nearby
delivery while other grades were also traded at higher prices
this week following a rally in benchmark Tokyo futures, dealers
said on Wednesday.
Anti-government protests in main producer Thailand have had
no impact on rubber trading so far, and dealers showed little
interest in a call by a group of Indonesian exporters to cut
output next year to support prices.
Indonesia's SIR20 was sold to Bridgestone at 105.25 U.S.
cents a pound ($2.32 a kg) late on Tuesday. Last week, the grade
was sold to unspecified buyers at 103 and 103.50 U.S. cents a
Thai RSS3 was reported sold to Bridgestone at $2.54 a kg for
February delivery, higher than $2.49 last week. Another Thai
grade, STR20, was offered at $2.40 a kg, unchanged from last
week, and with no reports of deals.
"I have to say the Thai grades are not so active, but there
are bits and pieces of deals. I heard that Bridgestone bought
some quantity of RSS, but I can't verify it," said a dealer in
"I haven't heard of any disruptions in trading activity
because of the protests."
Protesters in Thailand trying to bring down the government
rallied at national police headquarters on Wednesday and their
leader said the fight would go on despite efforts to defuse the
Thailand's military, which has staged or attempted 18 coups
in the past 80 years, has kept its distance from the latest
turmoil and the navy chief said on Wednesday he and his top
armed forces colleagues had ruled out intervening as the
situation was returning to normal.
Rubber futures on Tokyo Commodity Exchange (TOCOM), which
set the tone for physical prices, shrugged off the violent
protests. The most active May contract rallied to its
highest in more than two months this week due to encouraging
economic data from main consumer China.
The May contract added 1.1 yen a kg to 275 yen, within sight
of Monday's peak of 276.8 yen.
"Some Chinese friends just told me recently that China will
stockpile rubber again. But I guess this is only hearsay," said
a dealer in Singapore, who trades Indonesia and Malaysian
Malaysia's SMR20 was traded at $2.43 a kg for February
delivery, higher than $2.36 and $2.37 a kg last week.
Many dealers have discounted talk that China may buy more
rubber for state reserves after buying 54,000 tonnes of RSS
grade in late October.
Dealers expect tyre grades to track movements in Tokyo
futures next week.