Asian physical rubber prices rise as prices rebound across various exchanges Wednesday. "Prices
are still a little bit all over the place today (Wednesday); the market is still trying to settle down," says a
Singapore-based dealer. "People are still a little confused about where fair price levels are. There are genuine buyers,
but there are also some just fishing around for prices." He says prices may remain volatile this week. Some major Thai
exporters which haven't been actively offering Monday and Tuesday start offers Wednesday with the market showing signs
of recovery. A recent slide in prices from Tocom's peak on Feb. 18 has resulted in some defaults from Chinese buyers,
but the majors haven't pulled out of deals yet, says the Singapore-based dealer. Even before Japan's massive quake on
Friday, the market was already abuzz with default concerns as prices have started correcting sharply downward.
Thailand's STR20 for May shipment sold at $4,100/ton, FOB, to a trader. Indonesia's SIR20 was traded around $4,200/ton,
FOB, for nearby shipment earlier in the day. Thailand's RSS3 sold at $4,300/ton, FOB, for April shipment late Tuesday.
"We were not offering, but a reliable customer came with this price, which we could do," says a trading executive. For a
breakdown of cash prices for all rubber grades, keyword search ASIAN PHYSICAL RUBBER. (huileng.tan@dowjones.com)
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