This entry was posted on Tuesday, March 2nd, 2010 at 8:48 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.
Tocom RSS3 rubber futures lower as crude below $80/bbl, yen firm.
Tocom opened lower, fell within Y1/kg range but started losing more after
Shanghai rubber futures opened lower. “There may be some speculators and
selling to cut losses,” says Tokyo-based trader. Rangebound movement expected
today, say traders. Thailand-based trade participant tips range at
Y292-Y302/kg, with lower range of Y292-Y294/kg; adds prices supported by strong
physical market. Nymex light, sweet crude for April delivery settled at
$78.70/bbl overnight, still below $80/bbl on Globex. Benchmark Tocom August
contract trading Y2.6 lower at intraday low of Y295.0/kg. (HLN)
Source: Dow Jones