Rubber futures up
BANGKOK - Thailand, the biggest natural-rubber producer, has lost about 20,000 tons of output after floods hit the south, according to the Thai Rubber Association, which warned of further disruption if rains persist.
Rubber surged in Tokyo on Wednesday on concern that there may be a loss of production because of the weather.
The September contract on the Tokyo Commodity Exchange jumped as much as 4.2 percent to 434.6 yen a kilogram ($5,236 a ton) on Wednesday. Rubber has gained 39 percent over the past year.
"The main concern now in the rubber market is whether output will be reduced out of Thailand," Ker Chung Yang, an analyst at Phillip Futures Pte, said from Singapore. "With that backdrop, the market is supported for now."
Bloomberg News
(China Daily 03/31/2011 page17)
