Market and product

TOKYO (Commodity Online): TOCOM rubber continues to be in red with July contract losing least (0.1 yen) and August contract losing most (4.5 yen) on 13.50 JST. The near month June contract was trading at 418.1 yen, a loss of 0.7 yen. November contract of far months was trading at 383.7 yen with a loss of 1.2 yen.

All NMCE rubber contracts are in red. June contract was traded for Rs.22550 after touching a high of Rs.22599 and a low of Rs.22447. Meanwhile August contract, subsequent to touching a high of 23250 and a low of 23165, was seen trading at the latter price.

Also, with concerns looming pertaining to the economic slowdown in US and China, oil futures slid 0.6% last week. This, along with strong dollar and possibility of surplus have played their part in bringing down rubber prices.

Meanwhile firm demand is expected to reflect in the steady trading of Malaysian rubber this week.

On a week-to-week basis,Malaysian Rubber Board's official physical noon price for tyre-grade SMR 20 jumped 1.5 sen to 1,390.5 sen per kg from the previous Friday's 1,389.0 sen per kg. Latex in bulk dropped by 5.5 sen to 941.5 sen per kg from 947.0 sen per kg previously. This is according to biz.thestar.com quoting Bernama.