This entry was posted on Friday, March 19th, 2010 at 8:16 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 1.2% higher, moving in tight range of Y286.4-Y289.8/kg, supported by firm physical market in wintering Southeast Asia, weaker yen, upward movement of Shanghai rubber. Relatively light volumes today, ahead of national holiday in Japan Monday. “We see mostly speculator trading today; funds and commercials are holding their positions,” says Tokyo-based broker; tips Y280/kg support, Y290/kg resistance; adds Tocom”s movement Tuesday partly dependent on performance of other Asian rubber futures, although prices in spot months could be further pushed up with supply crunch in physical rubber. Benchmark August rubber contract settles Y3.5 higher at Y289.1/kg.
Source: Dow Jones