This entry was posted on Wednesday, January 26th, 2011 at 9:14 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 sharply lower, weighed by general weakness in Tocom commodities and long liquidation before the Lunar New Year holiday in China that starts Feb. 2, a Tokyo-based commodities brokerage executive says; he adds “weak sentiment is likely to prevail in Tocom this week and prices may fall further,” but tips Y450/kg to support; he says the market is oversold after today”s fall. The previous benchmark June contract settles Y16.5 or 3.5% lower at Y460.1/kg, after falling by as much as 4.9% intraday; the new benchmark July contract settles at Y457.2/kg after opening at Y460.2/kg.
Source: Dow Jones