This entry was posted on Tuesday, July 26th, 2011 at 4:52 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 higher, tracking Shanghai rubber, but a strong yen weighs on prices; “traders are concerned about the yen, which is the biggest drag on Tocom prices now,” says a trade participant in southern Thailand. Demand from tire makers in China and India is rising, driving up natural rubber prices–and rubber exports from Malaysia, Deputy Commodities Minister G. Palanivel said on the sidelines of a news briefing in Kuala Lumpur Tuesday. Traders will likely keep their eyes on the USD/JPY as well as U.S. debt-ceiling talks over the next few sessions. The previous benchmark contract, December, settles Y4.1 higher at Y386/kg, near the intraday high of Y386.2/kg. The new benchmark January contract settles at Y387.6/kg after opening at Y383.8/kg.
Source: Dow Jones