中文    /   Eng

25 Rubber early assessment: material gains Hujiao limit

Date:Mar 25,2009

  Shanghai Futures Exchange rubber futures finished lower yesterday, the main 0907 contract eventually closed at 13,655 yuan, down 75 points, on volume of 795,132 hands, lighten 13582 hand. Overnight weakness in crude oil futures, US stocks fell across the board, the material limit Hujiao rally.
  TOCOM rubber futures ended higher on Tuesday, due to a weaker yen and crude oil prices firmed. But it failed to keep the benchmark contract high above 150 yen, suggesting weak demand will continue to weigh on prices, inhibit further gains. Market early afternoon and were on the probe to that level, the United States launched the plan to buy banks' toxic assets, such as copper and crude oil on Monday support commodity prices rose. Stocks also rose, helped boost rubber market sentiment. A Thai trader said, "Other commodity market sentiment seems to be good, but had expected the yen to rise suddenly gone soft, and gum thus obtaining external support factors." TOCOM rubber futures benchmark August contract closed up 1 yen or 0.7 percent to 149.7 yen per kilogram, intraday Takami 152.6 yen for the year to 19 January to the highest level. The contract closed up against the 4.9% previously raised to seven weeks maximum.
  US crude oil futures rose late Tuesday, but remained weak overall. NYMEX-5月原油期货结算价上升 $ 0.18, or 0.33%, the highest settlement price settled at 53.98 US dollars a barrel, this is the last November 28 to close at $ 54.43 since the intraday trading range of $ 52.45-54.20 .
  However, as investors began to reassess the fate of the government's plan to clean up toxic assets, the US stock market experienced shot up on Monday after falling sharply on Tuesday. In the case where the market began to doubt whether the US government up to $ 1 trillion in toxic assets to clean up the plan works, as well as investors rushed to take profits, and bank shares on Monday hit a 16-year performance of the best day, fell sharply today, The Dow fell 115.89 points, or 1.49%, reported 7,659.97 points; standard & Poor's 500 index fell 16.67 points, or 2.02%, reported 806.25 points; the Nasdaq fell 39.25 points, or 2.52%, reported to 1,516.52 points.
  Spot, spot rubber prices in Asia on Tuesday, followed the futures market rally higher, but the recent rally so that the spot market buyers on the sidelines. A Thai trader says, "The current market was very light." He also said that the Thai government plans to buy rubber from farmers to support prices, "in the winter is not necessary."
  April shipment of Thailand Yan Pianjiao 3 RSS3 reported 150 cents per kg, the previous day reported that 150 cents per kilogram. April shipment of Thai STR20 standard rubber tire class reported 148 cents per kg, the previous day reported that 147 cents per kilogram. April shipment of Indonesian tire standard rubber SIR20 reported 134.5 cents per kg, the previous day reported 132.2 cents per kilogram. April shipment of Malaysia tire standard glue SMR20 reported 150 cents per kg, the previous day reported that 147 cents per kilogram.
  Other aspects, March 17, Hainan State Farms of Jin Jiang Branch officially open cut, more than 11 days ahead of the same period in 2008, before the cut rate of 95%, an increase of 20% compared to 75% in 2008. So far in 2009, Hainan Rubber phenology whole ideal, gum trees growing well, 2009 will not be a rubber open cut significantly delayed, is expected in late April can achieve all open cut. According to various sea-gum group company is expected to cut the time to open in mid-March Sanya, Ledong, Baoting, Lingshui southern Hainan rubber will be the first open cut; the end of March to mid-April as the central region of Hainan Danzhou, Baisha, Qiongzhong, Qionghai, Tunchang, Lingao, Chengmai and other Hainan in most areas are also expected to open cut; northern regions such as Hainan, Haikou, Wenchang, also will be in late April and finally into the open cut. As long as there is no cold weather, open cut will be relatively smooth. 2009 natural rubber production status of China's areas there may be a sharp rebound, which creates a certain pressure on prices.

TypeInfo: Industry news

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