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Jul 19: Tocom Rubber Settles Tad Lower; Y374.9 Support

[Dow Jones] Tocom rubber futures pare losses after falling as much as 1.6% intraday, as Shanghai rubber gains a tad after midday; trade is relatively slow with investors still generally risk-averse due to euro-zone and U.S. debt jitters, but firm fundamentals are limiting Tocom”s downside. Singapore-based Phillip Futures says data from largest rubber consumer and importer China will be closely watched for further cues; with the market liable to trade either way next session, a Thailand-based trader tips technical support at Y374.9/kg and resistance at Y381.8/kg. Benchmark December RSS3 settles Y0.2 lower at Y378.8/kg, off an intraday day low of Y373/kg.

Source: Dow Jones

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This entry was posted on Tuesday, July 19th, 2011 at 5:08 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.

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