Tocom rubber falls, may rebound

ERJ staff report (LMH)

Bangkok – Tocom RSS3 rubber futures fall as the yen continues to strengthen, though prices are moving in range after Tuesday's sharp selloff, according to the International Rubber Consortium (IRCo).

Tocom may rebound during the day on dip-buying, particularly if Shanghai rubber extends gains, IRCo reports a Thai trader as saying. SHFE is now slightly higher in early trade.

IRCo's chief secretary, Yium Tavarolit, said in a weekly report that prices may rebound if there is an improvement in market confidence, as major producing countries are entering the low-production season. Benchmark August rubber is trading Y2.3 lower at Y287.5/kg, after moving in a Y286.6-Y290.1/kg range.

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News release from IRCo