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Mar 29: Tocom Rubber Settles 2.6% Higher; Upward Trend

[Dow Jones] Tocom rubber futures settle 2.6% higher after rising to intraday high of Y312.3. Tight physical rubber supply in wintering countries contributing to surge in prices; crude prices higher in Asian trading hours, yen stays weak. Some profit-taking may take place, but downside limited, upward trend in short term, says Masami Aratake, trader at Tokyo-based Newedge Japan; adds September contract likely to test Y320/kg, support at Y300/kg. Benchmark September rubber contract settles Y8 higher at Y312/kg.

Source: Dow Jones

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« Mar 29: Thai USS3 Rubber Prices Break Record Again
Mar 29: Rubber Rises to 18-Month High as Thai Supply Drops, Oil Climbs »

This entry was posted on Monday, March 29th, 2010 at 8:27 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.

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