Rubber futures lower close 10th TOCOM, one week after touching a low point, under the influence of global economic recovery concerns sentiment and falling crude oil prices dragged down.
Comprehensive media coverage on June 10, TOCOM
rubber chemicals futures 10th hit week lows, due to fears of economic slowdown may result in reduced demand for rubber.
TOCOM 10th rubber futures for delivery in November fell 1.7% per cent Yen/kg (about US $ 4,764/tonnes), destination country 383.7 Yen/kg. The contract this week by 1.5%.
One analyst said fears of slowing global economic recovery sentiment as well as the decline in car sales in China inspired fears of weak rubber needs to maintain.
Another analyst said the decline in crude oil prices also makes rubber market pressure, because of natural rubber as a synthetic rubber substitutes reduced demand.
China May decline in passenger car sales for the first time in more than two years, due to Honda and other Japan automakers cut back production affected by the earthquake. 9th China automobile industry association said China May include cars, multipurpose vehicles and sport utility vehicles sales year than down 0.1% to 1.04 million units May total vehicle sales fell 4% to 1.38 million units.
Shanghai Futures Exchange said Chinese natural rubber stocks this week increased 645 tons to 11,211 tons.
Thailand rainfall continued in the South, continued restrictions on tapping, reducing the supply of rubber. According to Thailand rubber Research Institute, Thailand rubber 10th spot prices were flat, destination country 158.35 baht (about US $ 5.21)/kg.
Rubber futures close 10th Shanghai Futures Exchange delivery in September were flat, reported $ 33,045 ($ 5,100)/ton.
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