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20 June 2012: Tocom Rubber Settles Higher; Focus On Possible Stimulus

Tocom rubber futures rally in late trade to settle modestly higher and above the key Y250/kg level; prices are partly supported by hope for stimulus measures in the U.S. and a similar, coordinated move in Europe. However, trade is slow and the upside is limited due to the euro-zone debt crisis and the murky global economic outlook. “Any rebound may be short-lived. Market confidence is low around the world, so buyers are bidding really low as well,” a trader in Thailand says. Market participants are focused on the U.S. Fed’s policy statement due later in the day. Benchmark November rubber settles Y0.7 higher, a gain of 0.3%, at Y252.2/kg, off the intraday high of Y253.4/kg.

Source: Dow Jones

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This entry was posted on Thursday, June 21st, 2012 at 8:36 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.

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