This entry was posted on Tuesday, September 25th, 2012 at 4:43 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 mostly settle higher, tracking modest gains in Shanghai rubber. Tocom’s front-month contracts are holding firm due to a collective export cut by the major producing countries–Thailand, Indonesia and Malaysia–that starts Oct. 1. The contango between October and March contracts has narrowed to just Y3.3 from Y13-Y18 over the past week. Tocom will likely take external cues Wednesday, as global macroeconomic concerns dominate sentiment, although prices will likely be supported above the key Y250/kg level, trade participants say. The previous benchmark February rubber settles Y0.1 lower at Y254.3/kg. The new benchmark March contract opened at Y253.5/kg and settled at Y255.4/kg.
Source: Dow Jones