This entry was posted on Thursday, January 5th, 2012 at 4:24 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 0.9% higher, tracking gains in crude-oil prices and Shanghai rubber. Support also comes from ongoing heavy rain and flash floods in south Thailand that will hit natural rubber production, Thai Rubber Association President Pongsak Kerdvongbundit says. Still, Tocom’s upside is limited as persistent euro-zone debt fears damps overall market sentiment. A Thailand-based trader pegs resistance at Y273/kg. Benchmark June rubber settles Y2.4 higher at Y268.1/kg, near the intraday high of Y268.2/kg.
Source: Dow Jones