This entry was posted on Thursday, January 12th, 2012 at 5:05 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 1.3% higher due to possible price intervention by the Thai government and easing inflation in China, which reinforces the view that Beijing is likely to loosen monetary policy. However, trade on Tocom was slow, moving in a tight range with a limited upside, as concerns about euro-zone debt continue to weigh on sentiment. Traders are watching whether Tocom prices can stay above Y280/kg; most traders peg the next key resistance level at Y300/kg. Benchmark June rubber settles Y3.6 higher at Y280.4/kg, after trading in a range of Y276.3-Y280.9/kg.
Source: Dow Jones