This entry was posted on Thursday, February 24th, 2011 at 5:28 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 1.7% lower in a day of volatile trade that saw prices rebounding as much as 3.2% early in the trading day. Tumbling Shanghai rubber prices pulled Tocom rubber prices into negative territory. Chaiwat Muenmee, an analyst at DS Futures in Bangkok, says tightening fears in China and spillover from the Middle East crisis contributed to the declines; he adds that Tocom may fall further, to Y450/kg, noting China”s natural rubber imports in January declined 14% on year, according to Customs data this afternoon. The benchmark August rubber contract settles Y8.5 lower at Y478.8/kg after moving in a wide range: Y469.3-Y502.7/kg.
Source: Dow Jones