This entry was posted on Thursday, March 1st, 2012 at 6:41 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% higher on renewed confidence in China’s manufacturing activity–the country’s February PMI rose to 51.0 from 50.5 in January. Meanwhile, Japan’s domestic sales of new cars, trucks and buses rose 31.9% from a year earlier in February, further boosting sentiment. Tocom may see further gains, as prices ongoing low-production season is supportive. A Thailand-based trader pegs resistance at Y340/kg. Benchmark August rubber settles Y3.3 higher at Y339.2/kg, off the intraday high of Y340.4/kg.
Source: Dow Jones