This entry was posted on Tuesday, October 7th, 2008 at 7:16 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 down in very active, volatile trade. Benchmark contract sank to Y16 exchange-imposed lower daily trading limit to 22-month low of Y210.3/kg shortly after opening before rebounding strongly to intraday high of Y228.8/kg then surrendering gains. Focus will now be fixed on how equities, other commodities react overnight, says trader. Adds “everyone is watching the Y210/kg level; It”s too early to say whether that”s any kind of support, and it”s obviously too early to say that that”s the end of the whole crash, but if (Tocom) can hold above that level in the near term, which it did today, it”ll clearly help shore up sentiment, for the time being at least.” Benchmark Mar RSS3 contract eventually settles Y4.9 lower at Y221.4/kg. (ANJ)
Source: Dow Jones Newswires