Tocom rubber futures settle 1.1% lower in slow rangebound trade, pressured by a Standard & Poor”s downgrade of Spain”s long-term sovereign credit rating, which re-ignited euro-zone debt concerns. China”s CPI data provide little upside as they indicate Beijing is unlikely to tighten or loosen monetary policy, Southwest Securities Zhang Gang analyst says. Traders continue to focus on developments in Thailand, as flood waters close in on Bangkok; the country is facing its worst floods in decades. Most participants peg immediate support at Y310/kg. Benchmark March rubber settles Y3.6 lower at Y317.5/kg, off an intraday low of Y314.5/kg.

Source: Dow Jones

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