Asian Rubber Prices Finish Higher

Asian rubber prices ended higher Tuesday, supported by stronger Shanghai rubber futures on hopes of improved rubber demand from top buyer China.

Tire manufacturers in China have let their rubber stocks run low and will have to start restocking, said Gu Jiong, an analyst at Yutaka Shoji. He added that this could support prices over the coming weeks.The most-active rubber contract on the Shanghai futures exchange for January delivery rose 545 yuan to finish at CNY14,805 yuan ($2,184) a metric ton.

Asian Rubber Futures         Nov 08                        Change from previous close

Tocom    Apr RSS3           Y189.8/Kg                        Up Y2.7

Shanghai Jan SCR5          CNY14,805/ton                  Up CNY545

Sicom    Dec RSS3           178.5 US cents/Kg              Up 2.4 US cents/Kg

Sicom    Apr TSR20          159.6 US cents/Kg              Up 4.0 US cents/Kg

USS      Nov                    THB55.71-THB56.21/Kg       THB54.75-THB55.09/Kg