This entry was posted on Thursday, July 21st, 2011 at 6:46 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.
Tocom rubber futures settle 1.0% lower, with a weak USD/JPY weighing on prices. Prices are also pressured by HSBC”s preliminary July PMI reading for China, which fell to a 28-month low, triggering concerns that the world”s largest importer and consumer of natural rubber may slow its purchases. Meanwhile, crude-oil prices regained positive territory late in the Tocom day, while Shanghai rubber pares losses, limiting Tocom”s losses. Tocom participants will be taking cues from Shanghai in the next session, says a trader in Thailand. Benchmark December rubber settles Y4 lower at Y384.9/kg, off the intraday low of Y382/kg.
Source: Dow Jones