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Sept 7: Tocom Rubber Settles Higher; May Test Y215/Kg

[Dow Jones] Tocom RSS3 rubber futures settle higher on strong buying support from institutional funds, adverse weather in growing regions, weaker yen, traders say. “Physical supplies are tight and the (price) outlook is bullish,” says broker in Osaka; adds many investors are setting up long positions on futures exchange. Rubber prices may test Y215/kg in near term though profit-taking by speculators is likely. Benchmark Tocom February rubber futures settle Y4.4 higher at Y211.5/kg, close to intraday high of Y211.7/kg. (SAM)

Source: Dow Jones

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This entry was posted on Tuesday, September 8th, 2009 at 9:00 am 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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