Japan rubber futures slide

SINGAPORE: Japanese rubber futures slipped for a fourth straight session on Wednesday, tracking lower Thai raw material prices and as traders braced for a bigger interest rate hike by the US Federal Reserve.

The Osaka Exchange rubber contract for November delivery finished down 1.5 yen, or 0.6%, at 253.6 yen ($1.88) per kg.

Latex prices in top rubber producer Thailand went down “quite a lot” from last Friday and all traders were concerned about a potential big Fed rate hike, said a Singapore-based trader.

Thai latex prices hit their lowest level since Feb. 7 at 47.65 baht ($1.36) per kg on Wednesday. Asian markets were in a pensive mood as shell-shocked investors waited to see just how aggressive the Federal Reserve would be on rates, with many fearing drastic action would risk tipping the world into recession.

Read more at Business Recorder

Reference : Business Recorder