This entry was posted on Thursday, April 1st, 2010 at 6:54 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.
Tocom rubber futures settle up 1.6%–at highest settlement price this year–as buyers set up new long positions with crude price strong above $83/bbl, continuing yen weakness, Asian shares higher. “It may test (18-month high) of Y314/kg again soon as it”s a bullish market, Tokyo-based broker says; adds overall rubber supply-demand fundamentals strong, with upside likely. Technical resistance at Y300/kg, support at Y316.5/kg. Benchmark September rubber contract settles Y5 higher at Y313.3/kg, near intraday high of Y313.6/kg.
Source: Dow Jones