This entry was posted on Thursday, March 18th, 2010 at 5:48 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 rubber futures settle lower after profit taking earlier in trading day; further pressured by lower Shanghai rubber in afternoon session, crude oil prices coming off slightly. “Prices are above Y300/kg in the spot months of March and April, so that indicates a strong physical market; but maybe players expect supplies to increase after wintering in the forward months, pressuring prices there,” says Tokyo-based broker; adds possible Tocom rubber correction tomorrow; tips strong Y280/kg support, Y290/kg resistance. Benchmark August rubber contract settles Y3 lower at Y285.6/kg.
Source: Dow Jones