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Feb 16: Tocom Rubber Recovers In Night Trade; Oil, Dip Buys

[Dow Jones] Tocom RSS3 rubber futures are rebounding in the night session after prices fell as much as 3% intraday in Wednesday trade; dip buying and higher crude oil prices in late Asian trade are giving support, a trader in Thailand says; “if crude oil prices gain tomorrow, maybe we may even see Shanghai (rubber) staging a rebound, which would also be supportive for the Tocom.” The benchmark Tocom July contract is Y5.8 higher at Y517/kg. The night session is considered part of the next day”s trading.

Source: Dow Jones

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« Feb 15: Thai USS3 Rubber Prices Up; Arrivals Still Low
Feb 17: Tocom Rubber Settles Higher; Short Covering »

This entry was posted on Thursday, February 17th, 2011 at 8:52 am 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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