This entry was posted on Wednesday, October 26th, 2011 at 5:56 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 mostly lower due to caution as the cancelled Ecofin meeting raises concerns over whether a euro-zone deal will emerge at the EU summit later Wednesday; a strong JPY also weighs, but the bourse”s weakness is limited as Shanghai reverses losses; traders are awaiting cues from the summit; Okato Shoji deputy general manager Kaname Gokon pegs support at Y290/kg and resistance at Y300/kg. The new benchmark April contract settles at Y293.9/kg after opening at Y292.5/kg; the previous benchmark, March, settles Y4.5 lower at Y293.3/kg, off an intraday low of Y286.2/kg.
Source: Dow Jones