This entry was posted on Wednesday, July 11th, 2012 at 5:59 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 RSS3 rubber futures fall, taking cues from a sharp overnight fall in crude-oil prices on persistent concerns over global economic growth. Growers continue to protest in Surat Thani, seeking higher prices, although their number dwindled overnight, say traders in Thailand. A Bangkok-based trader says there may be further downside for Tocom, with support at Y240/kg. “Many will start short-covering at that level; if Shanghai rubber can stay above CNY24,000/ton, the downside will be limited for Tocom,” he says. Benchmark December rubber trades Y1.7 lower at Y246/kg, off the intraday low of Y244.8/kg.
Source: Dow Jones