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.
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