This entry was posted on Friday, February 17th, 2012 at 8:57 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, but well off the intraday high, as sentiment improved due to upbeat U.S. economic data and signs of progress in Greece’s efforts to obtain a second bailout. Weakness in the yen also fueled the rise. However, Tocom prices may remain volatile due to macroeconomic uncertainties and apparent delays in the Thai government’s implementation of its price-intervention scheme, traders say. Resistance is at Y325/kg, most traders say. The benchmark July contract settles Y4.2 higher at Y318.1/kg after gaining as much as 3.4% in early trade to an intraday high of Y324.5/kg.
Source: Dow Jones