This entry was posted on Wednesday, May 11th, 2011 at 7:55 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 1.5% higher after gains were pared due to crude-oil prices coming off highs and with tightening fears being reinforced in China due to higher-than-expected inflation. Tocom has been moving in range this week after Friday”s broad-based commodities slump, and may recover gradually on bargain hunting for the rest of the week if Shanghai rubber holds above CNY30,000/ton, says a Tokyo-based broker; he pegs immediate resistance at Y400/kg. The benchmark October rubber contract settles Y5.7 higher at Y383.2/kg, off the intraday high of Y387.4/kg.
Source: Dow Jones