This entry was posted on Wednesday, June 22nd, 2011 at 8:33 am 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 a tad lower after another session in range trade, falling and paring losses in line with Shanghai rubber; higher crude-oil prices support. With raw material prices around THB140/kg, Tocom should be around Y400/kg, says a Hat Yai-based trader. “But there are too many bears in the market, so prices are depressed.” Traders are focusing on macroeconomic cues and will be watching the outcomes of a no-confidence vote against the Greek government later Tuesday and the U.S. Federal Reserve rate-setting meeting Wednesday. Benchmark November rubber settles Y0.3 lower at Y377.6/kg, after moving in a Y374.4-Y381.6/kg range.
Source: Dow Jones