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Mar 30: Tocom Rubber Settles Up On Thai Floods, Weak Yen

[Dow Jones] Tocom rubber futures settle 3.1% higher due to severe flooding in southern Thailand and the weak yen, which dropped to a near three-week low against the dollar. Thai Rubber Association President Luckchai Kittipol says ongoing floods in southern Thailand may have already cut natural rubber production by 20,000 tons this month. A Tokyo-based broker says Tocom may rise further, with resistance at Y442.8/kg. The ongoing nuclear crisis in Japan, which has been damping overall market sentiment, may still weigh, some trade participants say. The benchmark September rubber contract settles Y12.9 higher at Y430.1/kg, off the intraday high of Y434.6/kg.

Source: Dow Jones

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« Mar 29: Tocom Rubber Settles Higher; Thai Floods Worsen
Mar 31: Tocom Rubber Settles Higher; Thai Floods Persist »

This entry was posted on Wednesday, March 30th, 2011 at 9:04 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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