This entry was posted on Thursday, June 28th, 2012 at 8:07 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 2.1% higher; major producer Thailand will explore strategies to help exporters deal with the euro-zone debt crisis, Thai News Service reported late Wednesday, quoting officials; Thai exports of rubber and rubber products to Europe have already dropped 49% in the first four months of the year. “There are many bears in Singapore saying that prices are unlikely to hold above Y200/kg for long, but it looks like prices have stabilized in the last few sessions and may continue moving around current levels; there are probably many people short covering,” says a Thailand-based trader; he adds that trade participants will still keep an eye on a two-day EU summit starting Thursday, with any major factors out of the meeting spilling over to Tocom. Benchmark December rubber settles Y5 higher at Y240.3/kg, off the intraday high of Y241.7/kg.
Source: Dow Jones