This entry was posted on Friday, September 30th, 2011 at 7:12 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 3.1% higher after gaining as much as 3.9% due to encouraging U.S. growth and jobless claims data Thursday. Meanwhile, HSBC”s China September PMI Index is steady vs. August, helping to assuage concerns that growth might be slowing sharply in the world”s largest consumer and importer of natural rubber. Tocom may trade in a wide Y290-Y320/kg range next week, as China will be on weeklong public holidays. “Tocom may trade with an upward bias due to buy orders after testing the key Y290/kg support this week,” says a trader in southern Thailand. Tocom has fallen 9.3% since last Friday in tumultuous trading. Benchmark March rubber settles Y9.3 higher at Y310.8/kg, off the intraday high of Y313.3/kg.
Source: Dow Jones