Asian Rubber Futures End Mixed; Bargain Hunting Supports Shanghai, Tokyo Gains

By Lucy Craymer Features Dow Jones Newswires

Asian rubber prices Friday ended mixed, with slight upticks in Shanghai and Tokyo--likely on bargain hunting--coming after sharp drops in recent weeks as markets priced in increasing supply and falling demand.

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The latest gains are expected to be short-lived as sentiment toward rubber remains bearish, said Kaname Gokon, an analyst at brokerage firm Okato Shoji.

However, the risk remains that the large natural-rubber-producing countries will reduce output, tightening supply in the market.

Asian Rubber Futures

May 12 Change from previous close

Tocom Oct RSS3 Y214.5/Kg Up Y0.7/Kg

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Shanghai Sep SCR5 CNY13,540/Ton Up CNY25/Ton

Sicom Jun RSS3 US 211.5 cents/Kg Dn US 0.5 cents/Kg

Sicom Jun TSR20 US 148.5 cents/Kg Dn US 1.5 cents/Kg

USS Jun THB68.67-THB69.37/Kg THB68.67-THB69.37/Kg

Write to Lucy Craymer at lucy.craymer@wsj.com, @lucy_craymer

(END) Dow Jones Newswires

May 12, 2017 06:42 ET (10:42 GMT)