This entry was posted on Tuesday, March 27th, 2012 at 3:29 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 higher as market sentiment is buoyed by Monday’s dovish remarks from Federal Reserve Chairman Ben Bernanke. Thailand’s minimum wage law comes into effect from April 1 in several parts of the country and the increase in operating cost is expected to have a spillover effect into the rubber trade, traders in Thailand –the world’s largest producer and exporter of the commodity– say. A Thailand-based trader tips resistance at Y345/kg. The August contract, previously the benchmark, settles Y4.4 higher at Y337.5/kg, off an intraday high of Y338.8/kg; the new benchmark September contract opened at Y341.2/kg and settles at Y339.8/kg.
Source: Dow Jones