This entry was posted on Wednesday, May 18th, 2011 at 4:39 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 0.9% lower, taking cues from Shanghai, which has pared gains, and the yen, which has strengthened in Asian trading. Trade volumes are relatively low Wednesday, as traders await clearer fundamental cues. “I”m out of the futures markets, it”s way too volatile; I can barely get one ton of USS3 today but prices are down,” says a Hat Yai-based trader. However, the market is expecting higher supplies as major producers emerge from low-production season. A Tokyo commodities brokerage executive says Tocom technicals are weak and there may be more downside ahead, although external cues will likely influence Tocom until clearer fundamental cues emerge. The benchmark October rubber contract settles Y3.3 lower at Y378.1/kg, off the intraday low of Y377.5/kg.
Source: Dow Jones