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Jul 8: Tocom Rubber Settles Up; Crude, Yen Support

[Dow Jones] Tocom rubber futures settle 2.3% higher, hitting Y277/kg–highest level since June 29–as crude gains, yen falls after Wall Street rally. Tocom October contract hits first Y10 upper limit, circuit breaker triggered; however, CB trigger not uncommon in recent months, note traders. Supply-demand fundamentals support Tocom, but macro economy, crude, yen will continue to play deciding role in next session, say traders; some investors may take profit before weekend, says Singapore-based trader. Benchmark December rubber contract settles Y6.2 higher at Y276.3/kg.

Source: Dow Jones

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« Jul 7: Rubber Increases for Second Day as Rainfall Reduces Supply From Thailand
Jul 9: Tocom Rubber Settles Lower; Range Trade Ahead »

This entry was posted on Thursday, July 8th, 2010 at 7:06 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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