This entry was posted on Wednesday, February 3rd, 2010 at 8:32 am 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 rubber futures settle higher on spillover support from crude oil, gold, traders say. Rubber oversold since late last month–now in recovery mode, says trading executive in Tokyo. Processed rubber still undervalued compared with prices of raw material, says Thailand-based trader; adds Tocom rubber futures may have bottomed out for time being. Tocom rubber futures fell for six successive trading days before settling higher yesterday. Nymex light, sweet crude for March delivery trading 19 cents higher at $74.62/bbl after rising 2.1% overnight. Benchmark July rubber contract settles Y6.9, or 2.5%, higher at Y282.3/kg after reaching an intraday high of Y285.2/kg. (HLN)
Source: Dow Jones