AGL 38.15 Decreased By ▼ -1.43 (-3.61%)
AIRLINK 125.07 Decreased By ▼ -6.15 (-4.69%)
BOP 6.85 Increased By ▲ 0.04 (0.59%)
CNERGY 4.45 Decreased By ▼ -0.26 (-5.52%)
DCL 7.91 Decreased By ▼ -0.53 (-6.28%)
DFML 37.34 Decreased By ▼ -4.13 (-9.96%)
DGKC 77.77 Decreased By ▼ -4.32 (-5.26%)
FCCL 30.58 Decreased By ▼ -2.52 (-7.61%)
FFBL 68.86 Decreased By ▼ -4.01 (-5.5%)
FFL 11.86 Decreased By ▼ -0.40 (-3.26%)
HUBC 104.50 Decreased By ▼ -6.24 (-5.63%)
HUMNL 13.49 Decreased By ▼ -1.02 (-7.03%)
KEL 4.65 Decreased By ▼ -0.54 (-10.4%)
KOSM 7.17 Decreased By ▼ -0.44 (-5.78%)
MLCF 36.44 Decreased By ▼ -2.46 (-6.32%)
NBP 65.92 Increased By ▲ 1.91 (2.98%)
OGDC 179.53 Decreased By ▼ -13.29 (-6.89%)
PAEL 24.43 Decreased By ▼ -1.25 (-4.87%)
PIBTL 7.15 Decreased By ▼ -0.19 (-2.59%)
PPL 143.70 Decreased By ▼ -10.37 (-6.73%)
PRL 24.32 Decreased By ▼ -1.51 (-5.85%)
PTC 16.40 Decreased By ▼ -1.41 (-7.92%)
SEARL 78.57 Decreased By ▼ -3.73 (-4.53%)
TELE 7.22 Decreased By ▼ -0.54 (-6.96%)
TOMCL 31.97 Decreased By ▼ -1.49 (-4.45%)
TPLP 8.13 Decreased By ▼ -0.36 (-4.24%)
TREET 16.13 Decreased By ▼ -0.49 (-2.95%)
TRG 54.66 Decreased By ▼ -2.74 (-4.77%)
UNITY 27.50 Decreased By ▼ -0.01 (-0.04%)
WTL 1.29 Decreased By ▼ -0.08 (-5.84%)
BR100 10,089 Decreased By -415.2 (-3.95%)
BR30 29,509 Decreased By -1717.6 (-5.5%)
KSE100 94,574 Decreased By -3505.6 (-3.57%)
KSE30 29,445 Decreased By -1113.9 (-3.65%)

The key rubber contract on the Tokyo Commodity Exchange ended lower on Friday as players took profit ahead of the weekend, but remained supported by firm oil prices and supply concerns. The benchmark March contract fell 0.2 yen to settle at 274.3 yen ($2.34), retreating from a four-month high of 277.0 yen in trade, the highest since June 7.
Other contracts rose between 0.1 and 1.4 yen, dealers said. TOCOM rubber was expected to rebound next week after finishing above the 7-day moving average of 268.4 yen, with support from rising oil prices and an easing yen, dealers said.
"I don't see any factor to push TOCOM prices down sharply. It's just a technical correction as demand is still there and supply is still limited," one said. US crude oil futures stayed near $83 a barrel on Friday as an unexpected fall of US stocks heightened worries of a supply shortfall in the world's top consumer ahead of the peak winter heating season.
Nymex crude fell slightly to $82.97 after rising 2 percent on Thursday. Rising crude oil usually encourages the use of natural rubber instead of synthetic rubber, a petroleum product. Another support for TOCOM rubber was the dollar's firmness above 117 yen. A stronger dollar against the yen inflates yen-based rubber futures prices.
In the physical market, rubber prices rose slightly on limited supply, despite weaker futures prices on TOCOM. Trading was expected to be busy ahead of the weekend, traders said. "Some buyers waited to buy when TOCOM retreated, while some should buy ahead of the weekend as Indonesia and Malaysia will take a week-long holiday," one trader said.
Physical prices were likely to remain high next week as the rainy season in Thailand's south was due to begin late October and last through December, traders said.

Copyright Reuters, 2007

Comments

Comments are closed.