This entry was posted on Monday, January 18th, 2010 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.
[Dow Jones] Tocom RSS3 rubber futures settle lower on profit taking amid weak crude, traders say. “Crude oil prices continue to fall, and this is a signal for rubber investors to take profits despite strong fundamentals,” says analyst in Singapore. Crude oil fell for sixth successive day Monday during Globex electronic session, trading below $78 a barrel. Some investors are on sidelines, waiting to see if any key policy decisions are taken during ministerial meeting of International Tripartite Rubber Council tomorrow in Kuala Lumpur. ITRC comprises Thailand, Indonesia, Malaysia, which together produce around 70% of world”s natural rubber. Benchmark Tocom June contract settles Y3.3 lower at Y294.8/kg. (SAM)
Source: Dow Jones