Asian physical rubber prices rose on Tuesday, reflecting gains on the Tokyo Commodity Exchange, which rose by the 10-yen daily limit on fund buying. Trading picked up in line with TOCOM, which resumed trading on Tuesday after a holiday, but physical trade was not very busy.
There were several inquiries from tyremakers and Chinese buyers, but few deals were done due to lower bids, traders said. "China bid for Thai RSS3 at $2.10 per kg, free on board, but no one was willing to sell," said a trader in the southern Thai rubber centre of Hat Yai.
Physical prices were likely to remain strong this week as monsoon rains hit Thailand's south, disrupting tapping in the area which produces around 90 percent of the country's 3 million tonne output.
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