This entry was posted on Monday, June 18th, 2012 at 3:22 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 3.1% higher as investors are cheered by the victory of the pro-bailout New Democracy party in weekend Greek polls. Kaname Gokon, deputy general manager at Tokyo-based brokerage Okato Shoji, says positive sentiment buoys Tocom with critical resistance at Monday’s intraday high of Y257.4/kg; he adds the upside is limited due to high stockpiles in China, the world’s largest consumer and importer of natural rubber. Benchmark November rubber settles Y7.8 higher at Y255.6/kg.
Source: Dow Jones