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19 Oct 2011: Tocom Rubber Settles Lower; May Be Oversold

Tocom rubber futures settle 3.7% lower, as demand concerns weigh, with downside pressure coming from the euro-zone debt crisis and slowing growth in China. Tocom comes under further pressure after midday as Shanghai rubber slides more than 6%. “Most people think that rubber is now oversold, but with uncertain external conditions, who really knows?” a major exporter in Bangkok says. Most traders peg key support at Y300/kg. Benchmark March rubber settles Y11.7 lower at Y301.5/kg, near an intraday low of Y301/kg.

Source: Dow Jones

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20 Oct 2011: Tocom Rubber Settles Lower; Y250/Kg Key Support »

This entry was posted on Wednesday, October 19th, 2011 at 7:08 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.

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