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Drumbeat: Ad Buzzaar
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Monday, June 15, 1998
Thai rubber ends down
REUTERS
Thai rubber ended the week lower as buyers after covering their near term commitments bid values lower, traders said. The weak baht failed to trigger short covering demand and the market was void of fresh leads, they said. "The situation is worse than last week. Bid prices dropped sharply," said a trader from southern Hat Yai. Another Thai trader said one broker in Singapore bid at 68 US cents a kg for September shipment of RSS3 rubber while the offer price was set around 71 US cents."The weak baht prompted some buyers to try to bargain down prices," he said. Thai RSS3 rubber for August shipment was bid around 66.50-67.00 US cents while October shipment was bid higher at about 68.00-68.50 US cents. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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