This entry was posted on Friday, April 30th, 2010 at 8:34 am 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]–Natural rubber futures on Shanghai Futures Exchange settle slightly higher despite giving up early gains in late afternoon session, mainly helped by overnight rebound in crude oil, higher metals futures, says Orient Securities Futures analyst He Jing; adds natural rubber may consolidate over next few sessions with upward bias, “especially because the ANRPC report lifted market sentiment.” Association of Natural Rubber Producing Countries says supplies of natural rubber are expected to rise as wintering season comes to an end, but pent-up demand, a faster-than-expected economic recovery could keep market tight in coming months. Tips natural rubber in CNY23,000-CNY24,000/ton range based on charts. Benchmark September contract settles up CNY90 or 0.4% at CNY23,475/ton.
Source: Dow Jones