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Mar 1: Tocom Rubber Settles Up; Yen, China Concerns Ease

[Dow Jones] Tocom rubber futures settle 2.3% higher as a weaker yen supports prices; concerns over further monetary tightening in China also ease after two separate surveys showed the country”s manufacturing growth slowed in February. “We may see more upside in the medium term due to the low-production season, but Tocom may take cues from the equities and currency markets this week,” says a Tokyo-based commodities brokerage executive. Tocom is in backwardation, a sign of tighter immediate supplies. The benchmark August rubber contract settles Y10.7 higher at Y477.1/kg, off the intraday high of Y484.1/kg.

Source: Dow Jones

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« Feb 28: Rubber Rebounding 32% as Reserve Drop Drives Michelin Costs
Mar 2: Tocom Rubber Settles Lower; Consolidating »

This entry was posted on Tuesday, March 1st, 2011 at 6:56 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.

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