TOCOM rubber futures rose on Monday as
investors covered short positions on news that Thailand plans to import 10,000
tonnes of rubber and China will boost economic growth, which in turn will improve
demand for rubber, though gains were limited by concerns over the euro zone
economy after a G8 meeting failed to offer a specific prescription to the
crisis.
Thailand will import rubber by receiving
deliveries from TOCOM in a bid to avoid shipment delays at a time when domestic
supply is tight because of the impact of unseasonal rains.
Curretly, rubber contract for June to October
delivery were trading at ¥283, ¥284.1, ¥285.5, ¥280.7 and ¥276.1 per kg,
respectively on the Tokyo Commodity Exchange. On Monday, RSS4 grade closed at `194
a kg at Kottayam and RSS3 grade closed at `205.85 today at Bangkok.
Read
lot more in Rubber4U – 1st June 2012 issue
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