This entry was posted on Tuesday, January 25th, 2011 at 7:15 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% lower after prices hit fresh record highs for the fourth straight trading day yesterday. “Excessive speculative activity contributed to Tocom”s price surge recently, which has unsettled both tire makers and dealers; prices need some correction after all those gains,” says a Thailand-based participant. Dealers are also cautious about profit-taking ahead of the upcoming week-long Lunar New Year holiday in China. The benchmark June rubber contract settles Y5.5 lower at Y476.6/kg, off the intraday low of Y473.6/kg.
Source: Dow Jones