This entry was posted on Tuesday, November 8th, 2011 at 5:19 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 1.0% lower after trading in range, with downside pressure coming from euro-zone debt woes and demand concerns due to floods in Thailand disrupting the supply chain. Although heavy rain is slowing tapping in south Thailand, limiting supply, overall production this year exceeds earlier expectations, the ANRPC says in its October bulletin; on the demand side, high stockpiles in China also weigh. Tokyo-based Okato Shoji deputy general manager Kaname Gokon tips key support at Y280/kg. Benchmark April rubber settles Y2.9 lower at Y281.7/kg, off the intraday low of Y281/kg.
Source: Dow Jones