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11 Jan 2012: Tocom Rubber Rises; Gains Limited Despite Thai Protest

Tocom rubber futures settle 1.4% higher due to reports of a protest by Thai growers and possible resulting Thai government moves to shore up domestic rubber prices; but the upside is seen as limited because concern about the global economy is still weighing on sentiment; a trader in Hat Yai says the market is awaiting the Thai government’s response to protests, as the market has pushed spot prices below rates set last year. Most traders peg Tocom resistance at Y280/kg. Benchmark June rubber settles Y3.9 higher at Y276.8/kg, off the intraday high of Y277/kg.

Source: Dow Jones

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11 Jan 2012: Thai USS3 Rubber Prices Rise; Growers Want THB120/Kg »

This entry was posted on Wednesday, January 11th, 2012 at 5:03 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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