This entry was posted on Wednesday, July 13th, 2011 at 8:46 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 1.7% lower as persistent euro-zone debt concerns continue to damp sentiment; however, Tocom”s downside is limited and volumes are thin as current macro-economic concerns have been priced in, says a trader in south Thailand. Front-month July contract drops Y10.1, narrowing its premium over the benchmark December contract. “Tocom should go back into contango; there is no reason why it should still be in backwardation. It”s already July and supplies have improved,” says a Hat Yai-based trader at a major exporter. Investors will be watching key output and GDP data from China Wednesday for further cues. Benchmark December rubber settles Y6.2 lower at 363.2/kg, off an intraday low of Y362.7/kg. July rubber settles at Y369.9/kg.
Source: Dow Jones