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Mar 1: Tocom Rubber Futures Down On Crude; To Be Rangebound

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

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« Mar 1: Rubber Output During ‘Wintering’ Season to Increase
Mar 2: Rubber Falls as Oil Drops, Thai Supply Shortfall May Be Limited »

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.

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