This entry was posted on Tuesday, December 8th, 2009 at 6:41 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.
Singapore – Tocom RSS3 rubber futures lower, extending losses for second straight day on liquidation pressure amid weak crude, traders say. “Crude oil is at its lowest in almost two months, and this is dragging natural rubber prices below Y260/kg despite its own strong fundamentals,” says broker in Tokyo. Nymex light, sweet crude for January delivery settled 2%, lower overnight at $73.93/bbl; recently trading four cents higher. Benchmark Tocom May contract trading Y2.0 lower at Y259.3/kg, close to intraday low of Y258.6.
Source: Moneycontrol.com