This entry was posted on Wednesday, June 29th, 2011 at 4:23 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 3.0% higher; the overall market Wednesday is higher on growing optimism for a viable solution to Greece”s debt crisis; strong industrial production data from Japan also support. A Thailand-based trader says Tocom may gain further on short-covering if prices push through and stay firmly above the Y358-Y359/kg resistance level. ANRPC said Tuesday that supply may stay slow this year, with the post-wintering rise in output below expectations. However, demand concerns also weigh; participants say natural rubber prices may continue to be volatile until clear cues emerge. Benchmark December rubber settles Y10.5 higher at Y357.8/kg, near an intraday high of Y358.2/kg.
Source: Dow Jones