This entry was posted on Wednesday, August 17th, 2011 at 7:49 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 0.4% lower, weighed down by a strong yen; but prices are still moving in a relatively tight range amid the summer holiday season in Japan. Indofood Agri Resources Chief Executive Mark Wakeford expects rubber prices to remain firm this year due to strong automotive demand in emerging markets, particularly China, and expectations of an incremental growth in demand from Europe and the U.S. “The supply side isn”t keeping pace with increased demand.” IRCo Chief Secretary Yium Tavarolit pegs Tocom support at Y360/kg. Benchmark January rubber settles Y1.4 lower at Y362.4/kg, after trading in a Y358.4-Y365.5 range.
Source: Dow Jones