This entry was posted on Wednesday, August 3rd, 2011 at 4:36 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 1% higher, paring gains on profit-taking after the market fails to breach Y395/kg resistance; a firmer USD/JPY lends support but gains are capped by concerns over the global economic outlook; traded volume is thin amid a lack of clear cues, says a Singapore-based trader; “we are not buying, and we are not selling Tocom rubber. There is no direction.” A trader in south Thailand says demand outstrips supplies as rain limits output in the country; this will likely continue to support prices and limit any downside. Benchmark January RSS3 rubber settles Y3.9 higher at Y391.1/kg, off an intraday high of Y395/kg.
Source: Dow Jones