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Jan 20: Tocom Rubber Settles Dn, Bounces Off Early Lows

[Dow Jones] Tocom rubber futures settle lower as recent weakness in crude oil prices, bearish fundamentals, recent firmness in yen vs dollar weigh, says trader. Adds recent reports of market intervention plans by major producing countries may offer mild support, though strong gains unlikely due to sluggish consumption outlook; Tocom likely to stay in Y145-Y155 range in near term, barring fresh leads. Benchmark June RSS3 contract settles Y2.2 lower at Y150/kg after dipping to intraday low of Y144.7/kg in morning session. (ANJ)

Source:  Dow Jones

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« Jan 20: Japan’s TOCOM to extend trading hours in May
Jan 20: INT’L RUBBER CONSORTIUM PREPARED TO CUT ’09 EXPORTS BY ANOTHER 430,000 TONNES IF PRICES FALL »

This entry was posted on Wednesday, January 21st, 2009 at 1:16 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.

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