Key TOCOM rubber futures rose as much as 3.4 percent on Friday boosted by strong gains in oil and the prospect of solid demand from tyre and carmakers, but profit taking emerged after traders said the Thai government's market intervention scheme had been delayed. The key Tokyo Commodity Exchange rubber contract for July delivery settled up 4.2 yen, or 1.3 percent, at 318 yen per kg.
"There were large-lot sales in the afternoon, affected probably by the news of a delay in the Thai intervention scheme," said Naoki Asami, chief broker at trading house Kanetsu. The benchmark contract remained within a recent trading range from 310 yen to 325 yen. Somdet Khemasuk, chairman of the Rubber Growers Co-operatives Federation of Thailand, said on Friday intervention was expected to start by early March, when they know how many rubber co-operatives will be eligible for the programme.
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