This entry was posted on Tuesday, March 8th, 2011 at 8:51 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.
[Dow Jones] Tocom rubber futures settle lower after losing as much as 3.7% on long liquidation. “Rubber”s fundamentals have not changed, but technical factors are causing Tocom rubber to fall,” says a Tokyo-based commodities brokerage analyst; he adds nervousness in Tokyo equities, sharply higher crude-oil prices and a weaker yen are weighing. “There may be more downside for Tocom rubber, and we are not likely to see a rebound in the near future,” he says, pegging support at Y430/kg. The benchmark August rubber contract settles Y12.2 or 2.6% lower at Y456.2/kg, off the intraday low of Y451.3/kg.
Source: Dow Jones