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.
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