This entry was posted on Tuesday, April 5th, 2011 at 7:36 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 5.1% intraday as the JPY stays weak vs the USD; while some profit-taking set in, Tocom”s upward trend may still be intact due to supply concerns as southern Thailand is still dealing with flood waters; Thai rubber output may return to normal only after public holidays next week, while 50,000 tons of production may be lost, more than twice as large as previously thought, although the country may make up the output drop by year-end, Thai Rubber Association President Luckchai Kittipol tells Dow Jones. A Tokyo-based broker tips resistance for Tocom at Y480/kg; benchmark September rubber settles Y14 or 3.2% higher at Y458.1/kg, off an intraday high of Y466.8/kg.
Source: Dow Jones