This entry was posted on Tuesday, June 14th, 2011 at 4:38 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 RSS3 futures settle a tad lower tracking Shanghai rubber. Chinese data released Tuesday show that inflation met expectations, but continue to point to further tightening from Beijing and tempered demand acoss the region, which may put further downward pressure on overall markets. A Thailand-based trader says supply is improving gradually, but sheet rubber output will likely improve only in a month or two as farmers focus on block rubber initially. Due to a lack of clear supply-side leads in the near term, Tocom is likely to take cues from Shanghai in the next trading day, he adds. Benchmark November rubber settles Y0.2 lower at Y379.8/kg, off an intraday low of Y376.8/kg.
Source: Dow Jones