Rubber Market is Under Pressure

The rubber market remained under pressure as Japanese indices shows some mixed trend. During the morning session Tokyo rubber futures rose more than six percent as Japanese shares jumped amid hopes for an easing of the credit crisis and less fears over a recession, which would contain demand for the industrial commodity. The rubber market had fallen more than twenty percent over the past five days.

The world’s top three rubber producing countries, Thailand, Indonesia and Malaysia are scheduled to hold a two-day meeting from Thursday in Bangok to coordinate efforts to boost falling prices. The three southeast Asian countries produce some 80 percent of the world’s natural rubber input.

Tokyo Commodity Exchange:
Rubber for March 2009 delivery traded at 191.5 yen per kilogram, 0.5 yen up.