This entry was posted on Tuesday, June 16th, 2009 at 7:53 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 on spillover pressure from weak crude oil, stronger yen. “It is a peculiar situation where speculators are driving the prices down by continuing to set up short positions even though fundamentals are still tight,” says Thailand-based exporter. Nymex light, sweet crude for July delivery briefly fell below $70/barrel during Japanese trading hours. Benchmark Tocom RSS3 November futures contract settles Y2.1 lower at 160.7/kg, after moving below crucial psychological mark of Y160/kg during intraday trade.
Source: Dow Jones