This entry was posted on Wednesday, June 20th, 2012 at 8:22 am 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 1.6% lower, as investors shift their attention back to Spain’s financial woes, overriding Monday’s post-election exhilaration after Greeks took a euro-friendly course in elections. Tocom trade volumes are low due to caution ahead of the two-day FOMC meeting starting later in the day. IRCo Chief Secretary Yium Tavarolit, notes in weekly report that rubber market fundamentals are still firm but this is offset by bearish sentiment. Most traders are pegging key support around Y250/kg. Benchmark November rubber settles Y4.1 lower at Y251.5/kg, near the intraday low of Y251.1/kg.
Source: Dow Jones