This entry was posted on Thursday, February 17th, 2011 at 9:54 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 3.4% higher after hitting a fresh record of Y530.6/kg. Although fundamentals are firm, with major producers entering low-production season, rubber traders say unprecedented prices for Tocom rubber are due to excessive speculation. Open interest published on Tocom”s website indicates that commercial investors are holding two-thirds of all short positions, while non-commercials are holding two-thirds of all long-positions. “Somebody may be squeezing the shorts on Tocom,” says a Thailand-based trader. The benchmark July rubber contract settles Y17.2 higher at Y528.4/kg.
Source: Dow Jones