This entry was posted on Tuesday, December 16th, 2008 at 8:20 am 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 higher; news that International Rubber Consortium members will further cut exports by 700,000 tons in 2009 following October announcement of 215,000-ton cut bolsters sentiment, though longer-term outlook remains uncertain due to gloomy physical demand outlook, trader says. Adds further upside possible in coming days, though market likely to find technical resistance at Y135/kg as participants continue to focus on global auto industry woes, wider economic turmoil. Benchmark May RSS3 contract settles Y8.5 higher at Y114.3/kg. (ANJ)
Source: Dow Jones Newswires