This entry was posted on Thursday, June 10th, 2010 at 7:16 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 1.1% higher, gaining traction later in trading day after Shanghai rubber climbed, crude oil prices posted gains to hold above $74/bbl on Globex. Shanghai rubber likely up on low inventories, technical rebound after recent falls, says analyst in China. End-May rubber inventories at Tocom”s designated warehouses fell 9.9% from May 20. However, volumes on Tocom relatively light today, indicating buying not aggressive. Strong yen, seasonal uptick in supply weigh on market. Benchmark November rubber contract settles Y2.8 higher at Y263/kg, off intraday high of Y265.3/kg.
Source: Dow Jones