This entry was posted on Thursday, December 10th, 2009 at 4:20 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.
Shanghai – Natural rubber benchmark contract on SHFE settles down 1.7%, as strengthening in dollar shows signs of persistence. “The market was waiting to see if the dollar’s recent recovery was a short-term thing, but when it rose quite strongly overnight, it now adds to psychological (downward) pressure on the commodities rally,” says Lin Hui of Orient Securities Futures; adds mood now bearish. Benchmark March contract settles down CNY375 at CNY21,830/ton.
Source: Moneycontrol.com