This entry was posted on Tuesday, September 30th, 2008 at 8:20 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Tocom rubber futures settle limit down amid a broad commodities selloff on back of wider global economic worries, while weak rubber fundamentals add further pressure, says trader. Adds minor rebound possible in near term but retracement back down to Y240/kg also likely as market continues to be heavily influenced by outside factors. Thin trade expected tomorrow due to closure of markets in Singapore for public holiday, while absence this week of China due to holidays also to damp trade for remainder of week. Benchmark Mar RSS3 contract settles Y16 lower at Y250.9/kg.
Source: Dow Jones Newswires