This entry was posted on Friday, December 11th, 2009 at 8:21 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 higher as investors set up new long positions amid spillover support from crude oil, gold. “Prices fell almost 8% this week, leading to the perception among traders that they may have bottomed out,” says analyst in Singapore. Most traders put immediate resistance at Y250/kg. Prices fell this week because funds which had rolled over their positions at higher prices cut their losses, says executive at Tokyo-based Okachi Corp.; adds prices recovered as selling pressure from funds has now eased. Benchmark Tocom May contract settles Y3.2 higher at Y247/kg, close to intraday high of Y247.5. (SAM)
Source: Dow Jones