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.
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
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
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(END) Dow Jones Newswires
May 12, 2017 06:42 ET (10:42 GMT)