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Oct 2: Tocom Rubber Settles Down; May Fall Further

[Dow Jones] Tocom RSS3 rubber futures settle lower on long liquidation but manage to stay above key psychological mark of Y200/kg. “Supplies from most regions of Indonesia are continuing as usual; therefore the upward push to prices due to the earthquake is limited,” says exporter in Singapore; adds tight supply due to dry Indonesian weather mostly factored in prices. Rubber prices briefly fell below Y200/kg but recovered, tracking crude oil which has held above $70/bbl during Asian trading hours. “Pre-weekend liquidators may try to drag down prices again during the night session,” says Japan-based trader. Benchmark Tocom March rubber contract settles Y1.6 lower at Y200.8/kg. (SAM)

Source: Dow Jones

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« Oct 2: RUBBER-Tokyo futures ease as oil slips before U.S. data
Oct 5: Rubber Drops as Slow Economic Recovery May Curb Demand Growth »

This entry was posted on Friday, October 2nd, 2009 at 8:28 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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