This entry was posted on Friday, March 18th, 2011 at 8:44 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.
Tocom RSS3 rubber futures settle higher after gaining as much as 8.1% intraday; the recovering physical market is supporting Tocom, as the Thai government pledges support for prices by calling for minimum prices and even an export halt after prices fell sharply last month due to external factors. “Tocom may test Y400/kg if physical prices holds up above THB120/kg,” says a Thailand-based trader, referring to the Thai government”s minimum set price level for local rubber prices. Tocom may still be weighed by pre-weekend profit-taking Friday, particularly if the nuclear situation in Japan remains uncertain. The benchmark Tocom August contract settles Y27.9 or 7.6% higher at Y396.9/kg, off the intraday high of Y399/kg.
Source: Dow Jones