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The price of Japanese Tocom Rubber and SIR 20 Indonesia rose

  • i2Matrix
  • 13 February 2020
The price of Japanese Tocom Rubber and SIR 20 Indonesia rose 
 
The price of natural rubber traded on the Tocom futures exchange after Wednesday's holiday (11/02/2020) experienced an increase which was boosted by the weakening of the Japanese yen exchange rate and the strengthening of crude oil prices. There has also been an increase in Indonesia's physical rubber prices for SIR 20 this week. 
 
The price of natural rubber in Tocom for the busiest contract, for the July 2020 contract late Wednesday closed 1.9 yen higher from the end of the previous trade to 179.00 yen after opening at 178.5 yen and briefly rose to 181 yen. The price of SIR 20 type physical rubber this week increased to $ 1.35 / kg after last week's price of $ 1.31 / kg. 
 
Analyst Research Vibiz Center sees the fundamental rubber prices still get support from concerns over the decline in supply of natural rubber from Southeast Asia, the main producing region. In addition, car manufacturers that have become rubber-buying industries have resumed operations, such as KIA Motors re-operating its factories that had long been closed due to the Corona outbreak. 
 
Observed the value of the Japanese Yen moved weakly into the European session today, down 0.03 percent against the US dollar at 109.87. As for the price of West Texas Intermediate crude which opened strongly early in the Asian session, it has now climbed $ 50.78 per barrel or has gone up 1.50% per barrel. 
 
(Translated with Google Translate from https://www.vibiznews.com/2020/02/12/harga-karet-tocom-jepang-dan-sir-20-indonesia-ditinggikan/)  
 
-- VibizNews 
 
 

 

 

 

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