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Mar 29: Tocom Rubber Settles Higher; Thai Floods Worsen

[Dow Jones] Tocom rubber futures settle 1.9% higher after dipping as low as 4.1% intraday. Trade is volatile on Tocom, as the market balances the impact of seasonal supply tightness against demand fears due to macroeconomic concerns. Supply concerns seem to be winning the tug-of-war Tuesday, as heavy rains persist in southern Thailand, with floods in some areas affecting transportation of goods, says a trader in the region. Thai News Agency reports Tuesday that flooding has worsened and is affecting up to 10,000 hectares of rubber and palm plantations. The benchmark September rubber contract settles Y7.9 higher at Y417.2/kg, off the intraday high and closing price of Y418/kg.

Source: Dow Jones

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« Mar 28: Tocom Rubber Settles Down; Weak Sentiment In Japan
Mar 30: Tocom Rubber Settles Up On Thai Floods, Weak Yen »

This entry was posted on Tuesday, March 29th, 2011 at 4:33 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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