IRCo's DCP eased 1.64 US cents/kg. but remained firm throughout the week amidst concerns over slowing economic recovery and tightening property and fiscal measures by China.
Supply was still tight, especially in Thailand, which had a long weekend starting Thursday on the occasion of the Queen's birthday, whilst demand remained steady on the back of strong data on vehicle sales.
Majority of futures and equity markets were in negative territories. The strengthening US dollar and concerns over slowing economic recovery pushed down crude oil prices by more than US $ 6.00 per barrel to close the week at US $ 75.39 per barrel.
Except for the Thai baht, regional currencies and the Japanese yen eased against the greenback, with the Indonesian rupiah back over the 9,000 rupiah level at end of the week. The Thai baht strengthened, breaking the 32 baht level on Monday and staying below it the whole week.
(irco.biz)
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