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  • News Desk
  • Aug 31st, 2004
  • Comments Off on Thai rubber futures end up, volume rises
Thai rubber futures ended higher on speculative buying on Monday as players bought contracts on expectations that prices will rise further, brokers said.

Overall volume was up slightly as 57 ribbed smoked sheet number three contracts were traded compared to 44 on Friday.

"Players bought deferred contracts and expected to take profit in a few days" said one broker.

The most active February contract finished at 50.2 baht per kg, up from 49.9 baht on Friday, with 17 contracts traded compared to 16.Players also eyed the March contract, offered for the first time on Monday after the September contract expired, brokers said.

The March contract closed at 50.1 baht per kg, up from the initial offer of 49.9 baht, with 14 contracts traded. In Thailand's physical market, RSS3 was quoted steady at 47.41 baht per kg.

On Singapore's SICOM, RSS3 was also quoted unchanged at $1.21 on Monday. Thailand, the world biggest rubber producer and exporter, launched its first commodity futures exchange in late May, allowing brokers to trade in ribbed smoked sheet number 3 (RSS3).October, November, December, January, February and March contracts were offered.

Trading hours are 10.30 am to 12.00 pm (0330-0500 GMT).

Copyright Reuters, 2004


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