This entry was posted on Thursday, April 26th, 2012 at 8:33 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 after the U.S. Fed left the door open for more stimulus measures following the FOMC meeting overnight. The ANRPC’s downgrade of its production forecast this year to 10.3 million tons from 10.4 million tons also provides support. Nevertheless, the ANRPC warns that the current global economic situation and short-term economic outlook aren’t conducive to faster demand growth for natural rubber in Q2. A Bangkok-based trader adds that bearish sentiment due to macroeconomic concerns is capping Tocom’s upside. Benchmark October rubber settles Y2.3 higher at Y308.7/kg, near the intraday high of Y308.9/kg.
Source: Dow Jones