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Jun 12: Tocom RSS3 Rubber Futures Settles Dn; Demand Weak

[Dow Jones] Tocom RSS3 rubber futures ends lower on fresh selling pressure, weak demand in cash market due to sliding U.S. dollar, traders say. “Crude oil above $72/barrel has failed to push up rubber prices because there isn”t any significant buying taking place in the physical market,” says trader in Tokyo. Benchmark Tocom RSS3 November rubber futures contract settles Y2.3 lower at Y168.6/kg. Traders put immediate resistance at Y170/kg. Sicom RSS3 July contract trading unchanged at 170.50 U.S. cents/kg.

Source: Dow Jones

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« Jun 11: Asia Physical Rubber Prices Steady; Supply Tight
Jun 12: CHINA BUYS 5,000 TONNES OF SIR20 RUBBER AT $1.52 A KG FOR JUNE SHIPMENT, STILL KEEN TO BUY ON DIPS »

This entry was posted on Friday, June 12th, 2009 at 7:14 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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