This entry was posted on Thursday, June 11th, 2009 at 8:41 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.
[Dow Jones] Tocom RSS3 rubber futures settle lower but manages to rise above Y170/kg again amid only limited impact of higher crude. “Speculative short selling is keeping rubber prices undervalued,” says executive at global trading company. Traders expect prices to recover in near term, put resistance at Y175/kg. Nymex light, sweet crude for July delivery trading 61 cents higher at $71.94/barrel. Benchmark Tocom November RSS3 rubber futures contract settles Y0.5 lower at Y170.9/kg, after trading between Y169.2/kg-Y172.9/kg.
Source: Dow Jones