This entry was posted on Monday, March 26th, 2012 at 4:15 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 0.8% higher as the Thai government’s price-intervention scheme picks up pace with the Rubber Estation Organisation entering the central markets to bid for rubber; the ongoing low-production season and a weaker yen are alos providing support. However, bellwether Tocom has been sentiment-driven recently and its upside may be limited by macro-economic concerns, keeping traders worried as physical prices in largest producer Thailand are likely to go up; “Farmers will surely hold their stocks now that the REO is competing with the rest of us,” says a major exporter in Bangkok. Benchmark August rubber settles Y2.5 higher at Y333.1/kg, after moving in a tight Y331.2-Y334.6/kg range.
Source: Dow Jones