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Mar 30: Tocom Rubber Settles Lower; Upward Trend Intact

[Dow Jones] Tocom rubber futures settle 0.6% lower amid profit taking after reaching 18-month high yesterday; yen”s gains vs dollar contribute to weakness. Still, upward trend intact, traders say; today”s weakness was to be expected after gains in last few sessions. “The supply in the physical market is tight, the demand is there and the economy is recovering, so overall, rubber prices are intact,” says Singapore-based commodities brokerage executive. Benchmark September rubber contract settles Y2 lower at Y310/kg, off Y308.4/kg intraday low.

Source: Dow Jones

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« Mar 29: Rubber Rises to 18-Month High as Thai Supply Drops, Oil Climbs
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This entry was posted on Tuesday, March 30th, 2010 at 8:10 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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