This entry was posted on Tuesday, March 13th, 2012 at 4:54 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 0.4% higher; the stronger possibility of Greece receiving its second bailout rekindles risk appetite, but the yen strengthens intraday against the greenback, limiting gains. Major producing countries are in the low-production season, but spot demand has slowed from a year ago, trade participants say. IRSG says natural rubber demand this year is forecast to rise 3.4%, compared with an earlier forecast of 4.6%. A Tokyo-based broker tips resistance at Y340/kg. Benchmark August rubber settles Y1.3 higher at Y339.3/kg, off an intraday high of Y340.4/kg.
Source: Dow Jones