for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Oil Report

Tokyo rubber dips 1 percent, hovers below 300 yen

TOKYO, Aug 19 (Reuters) - Tokyo rubber futures fell more than 1 percent to a 3-½ month low below the key 300-yen level, pressured by weak commodities prices including crude oil and gold.

* The key Tokyo Commodity Exchange rubber contract for January delivery <0#JRU:> fell 4.8 yen per kg or 1.6 percent to a morning session low of 297.9 yen, the lowest since May 2. It closed the morning at 299.2 yen.

* The key contract has now fallen about 16 percent from a 28-year high of 356.9 yen marked on June 30.

* TOCOM rubber’s decline was part of the poor performance of many other commodities and the stock market, due to concerns about an economic downtrend, a Tokyo trader said.

* He said that sporadic bargain hunting buying would emerge on dips, but that the current trend was bearish.

“One key question is whether the price will break below this year’s trough of 266.1 yen,” he said.

This year’s bottom was marked on March 21.

* U.S. crude oil futures fell to nearly $112 a barrel as concerns that a tropical storm would cause supply disruptions eased. [O/R]

* The dollar was trading at around 109.78 yen JPY=, against 110.11/14 yen in late New York. FXNEWS

PRICES OF ASIAN PHYSICAL RUBBER COMPARED WITH MONDAY

Grade Price Change

Thai RSS3 (Sept) $2.85/kg -$0.05

Thai RSS3 (Oct) $2.85/kg -$0.05

Thai STR20 (Sept) $2.85/kg -$0.05

Thai STR20 (Oct) $2.85/kg -$0.05

Malaysia SMR20 (Sept) $2.87/kg -$0.05

Malaysia SMR20 (Oct) $2.87/kg -$0.05

Indonesia SIR20 (Sept) $1.27/lb -$0.01

Indonesia SIR20 (Oct) $1.27/lb -$0.01

Thai USS3 88 baht/kg - 1 baht

Thai 60-percent latex (drums, Sept)$1,930/tonne -$20

Thai 60-percent latex (bulk, Sept) $1,800/tonne unchanged (Reporting by Miho Yoshikawa; Editing by Michael Urquhart)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up