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Oct 21: Tocom RSS3 Rubber Settles Dn, But Outlook Bullish

[Dow Jones] Tocom RSS3 rubber futures settle lower after moving both ways in choppy trade. “The market is trying to consolidate above Y225/kg and occasionally there is strategic liquidation to take profits,” says exporter in Singapore; adds near-term outlook bullish. Since supply is tight, market may even test Y230/kg soon but will first ease before next round of buying, says Thailand-based broker. Benchmark Tocom March rubber contract settles Y0.8 lower at Y225.4/kg after reaching intraday low of Y223.4/kg.

Source: Dow Jones

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« Oct 20: Rubber Rises to One-Year High as Stock Rally, Oil Boosts Demand
Oct 21: RUBBER-Tokyo futures hit 1-yr high but slip as oil retreats »

This entry was posted on Wednesday, October 21st, 2009 at 4:52 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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