By Lucy Craymer
Asian rubber futures largely ended the session lower as concerns about the outlook for the Chinese economy continued to weigh on rubber prices and other markets.
China shares finished lower in tumultuous trading Monday, as weak data on Chinese factory output pulled prices down despite apparent efforts by Beijing to prop them up. On Sunday, data showed China’s factory output and fixed-asset investment were both weaker than expected in August, underlining the challenges Beijing faces in pushing the economy to reach its full-year economic-growth target of about 7%.
Rubber prices were supported early in trading due to investors looking to cover short positions but sentiment remains bearish, according to a Singapore-based trader.
The December Tocom benchmark rubber contract ended the night session down Y2.0 at Y174.4 a kilogram, which is considered part of the next day of trading.
Asian Rubber Futures Sept 14 Change from previous close Tocom Feb RSS3 Y176.1/Kg Down Y1.4 Shanghai Jan SCR5 CNY11,820/Ton Down CNY5 Thai Apr RSS3 THB50.40/Kg Down THB0.90 Sicom Nov RSS3 US 135.3/Kg Up US 0.7 cents Sicom Nov TSR20 US 125.9/Kg Up US 0.1 cents Asian Physical Rubber Grade Shipment Sept 14 Sept 10 RSS3 Oct/Nov 135-136 135-136 STR20 Oct/Nov 133-134 130-131 SIR20 Oct/Nov 126-126 126-126 SMR20 Oct/Nov 132-133 130-131 SVR3L Oct 138 132 USS Sep THB45.00-THB45.20/Kg THB45.00-THB45.20/Kg