This entry was posted on Friday, April 22nd, 2011 at 8:40 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 higher after gaining as much as 3.1% in early trade before paring gains; investors lock in profits ahead of the weekend. Trade is thin Friday due to Easter holidays in many regions. “It”s mostly day trading today; prices couldn”t sustain the upward momentum due to the strong yen,” says a Thailand-based trader. Tocom is supported by supply-demand fundamentals, but prices have been volatile recently with macro-economic concerns clouding the demand outlook. Tocom is expected to continue taking external cues unless fresh fundamental cues emerge, say traders. Benchmark September rubber settles Y6.7 or 1.6% higher at Y419/kg, off the intraday high of Y425/kg.
Source: Dow Jones