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26 Oct 2011: Tocom Rubber Falls, Eyes On EU Meet; Y290-Y300/Kg

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

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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.

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