Rubber trades near two-month low on Chinese stockpiles, PMI data | Bangkok Post: Most recent

Most Recent >

Rubber trades near two-month low

- +

Rubber declined for a fifth day on Monday and traded near a two-month low as stockpiles increased in China, the largest consumer, and a survey showed the country’s manufacturing may expand this month at a slower rate. 

The contract for July delivery on the Tokyo Commodity Exchange fell as much as 0.8% to 294.6 yen a kilogramme (US$3,132 a metric tonne), approaching the two-month low of 292.7 reached Feb 21, and was at 295.9 yen at 10.52am. Futures have declined 2.2% this year.

The preliminary reading of a Purchasing Managers’ Index was 50.4 in February, according to a statement from HSBC Holdings Plc and Markit Economics today. That compares with the 52.3 final reading for January and the 52.2 median estimate of 11 analysts surveyed by Bloomberg News. A number above 50 indicates expansion. Inventories monitored by the Shanghai Futures Exchange rose 2,401 tonnes to 102,416 tonnes, the bourse said Feb 22. It was the highest level since March 2010.

Keep up-to-date with the latest on coup d'etat with Bangkok Post SMS News. Call *451391000 to subscribe – 39 baht/month (7 days free, available in Thailand only) Bangkok Post SMS News: Deliver only trustworthy news on SMS

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

4 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments