Asian physical rubber prices were quoted mostly higher on Friday, tracking bullish futures contract prices on the Tokyo Commodity Exchange as they rose to a fresh 28-year high due to soaring oil prices. But trade was thin as higher prices kept buyers on the sidelines, traders said. "That was all about speculation on TOCOM, which pushed up the physical market," a Malaysian trader said.
"It's not about demand and supply, so buyers are waiting to buy later when TOCOM undergoes a correction" he said. Dealers in Singapore said most buyers asked for around 5 cent discounts for RSS3 and SMR20, but producers were reluctant to sell.