This entry was posted on Tuesday, April 19th, 2011 at 8:38 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 2.3% lower, with prices weighed by the latest RRR hike in China, prompting speculation that rubber demand from the world”s largest consumer and importer of the commodity will slow; a stronger yen also puts downward pressure on Tocom contracts. However, Tocom hovered around Y420/kg for most of the trading day, signalling strong support at this level. Prices recovered somewhat in the last 15 minutes before closing, so prices may rebound in the next session, says a Thailand-based trader. The benchmark September rubber contract settles Y10.1 lower at Y425/kg, off the intraday low of Y416.7/kg.
Source: Dow Jones