This entry was posted on Wednesday, March 2nd, 2011 at 8:13 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 0.3% lower on cues from Shanghai rubber and weakness in equities amid geopolitical tensions in the Middle East. However, downside is limited due to supportive fundamentals. A Bangkok-based veteran trader says prices are consolidating before a rebound: “If prices turn positive and continue to rise, the shorts will have to cover their positions.” A Tokyo-based broker says he expects Tocom to resume its rally this month as major producers enter low-production season. The benchmark August rubber contract settles Y1.2 lower at Y475.9/kg, off the intraday low of Y470.6/kg.
Source: Dow Jones