This entry was posted on Tuesday, September 18th, 2012 at 5:10 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 0.6% higher as the Thai government Tuesday approved another THB30 billion for the country’s domestic price support plan. As persistent rain has been limiting tapping activity in the major producing region of southern Thailand, extension of the government plan from next month may worsen the raw material supply crunch, say traders. Natural rubber prices are also currently supported by broadly positive sentiment after the U.S. Fed announced QE3 last week. Benchmark February rubber settles Y1.6 higher at Y256.2/kg, off an intraday and two-and-a-half month high of Y259.5/kg.
Source: Dow Jones