This entry was posted on Tuesday, June 15th, 2010 at 4:55 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 1.2% higher, shrugging off earlier losses as firm supply-demand fundamentals support. Trade volume still relatively light as China on public holiday, but there may be buying on expectation that China will return to market after holiday to replenish depleting stocks, says trade participant. More output in Thailand now compared with ultra tightness in wintering season, but output quantity below expectation. Tocom benchmark rubber tested resistance at Y280/kg. Market bullish, say traders, could possibly post more gains, although new developments in external markets could affect sentiment. Benchmark November rubber contract settles Y3.4 higher at Y278.2/kg, off intraday high of Y280/kg.
Source: Dow Jones