Rubber markets end the session broadly lower as concerns remain about the growth outlook for the region and demand for rubber.
China’sGeneral Administration of Customs reported over the weekend that imports in October fell by a sharper-than- expected 18.8% from a year earlier, after a 20.4% fall in September. China’s trade surplus widened in October to $61.64 billion from $60.3 billion in September.
Rubber markets will continue to “remain gloomy as investors have lost a sense of direction,” said Kaname Gokon, an analyst at Okato Shoji in Tokyo.
Weak demand from rubber, not just from top buyer China, but also other emerging markets, is expected to spill over to the rubber market, he added.
Asian Rubber Futures Nov 9 Change from previous close Tocom Apr RSS3 Y154.9/Kg Down Y0.2/Kg Shanghai Jan SCR5 CNY10,490/Ton Down CNY15/Ton Thai Jun RSS3 THB45.80/Kg Down THB0.25/Kg Sicom Jan RSS3 US 121.0 cents/Kg Down 1.7 cents/kg Sicom Jan TSR20 US 116.0 cents/Kg Down 0.5 cents/kg Asian Physical Rubber Grade Shipment Nov 06 RSS3 Dec/Jan 120/121 STR20 Dec/Jan 124/125 SIR20 Dec/Jan 121/122 SMR20 Dec/Jan 118/11 SVR3L Dec 126 USS Nov THB37.53-THB37.90/Kg THB37.55-THB37.99/Kg