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25 Oct 2011: Tocom Rubber Settles Higher; Y301/Kg Resistance

Tocom rubber futures settle 0.9% higher, tracking crude; major producer Thailand is declaring holidays Oct. 27-31 in Bangkok and other flood-affected areas; while rubber supplies have been little impacted as the major producing region is in south Thailand, some shipments to ports near Bangkok like Laem Chabang have been re-routed, a trader at a major exporter saus. Most traders are focusing on the EU leaders” debt-crisis meeting due Wednesday; a second Thailand-based trader pegs resistance around Y301/kg. Benchmark March rubber settles Y2.7 higher at Y297.8/kg, off an intraday high of Y301.5/kg.

Source: Dow Jones

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This entry was posted on Tuesday, October 25th, 2011 at 6:25 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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