Rubber

Rubber: futures advance for a third day in Tokyo trading, while cash price in Thailand climbed to a record THB 132.75/kg (US$4.44/ kg) today as floods devastated trees, lowering pdtn in the country’s south. The southern provinces account for 68% of the country’s total plantation area. Meanwhile worries over the debt situation in Europe have eased, improving sentiment and raising optimism over demand for rubber…

However May-delivery rubber on the Shanghai Futures Exchange declined as much as 2.7% to Rmb 33485/ ton (US$5195/ ton) on concerns over China’s measures to fight inflation. China’s natural-rubber inventories rose for an 8th consecutive wk to a 7-month high, +705 tons to 60,996 tons, based on a survey of 10 warehouses across China’s major cities.