This entry was posted on Wednesday, July 8th, 2009 at 5:16 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.
[Dow Jones] Tocom rubber futures settle down on continued fund selling, though rebounds strongly off intraday low of Y153.7/kg, reached shortly after opening, says senior trader with major Tokyo-based commodities house. Adds, overall outlook weak for rubber, while declining crude will also likely weigh on sentiment in coming sessions. “Demand does appear to be picking up slightly though, with U.S. Japanese and Chinese manufacturers all starting to show more of an interest, so we should find a floor around the Y150-Y152 area in the near-term, though its still difficult market to call going forward,” trader notes. Benchmark December RSS3 contract settles Y4 lower at Y157.2/kg.
Source: Dow Jones