This entry was posted on Monday, September 3rd, 2012 at 6:18 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 4.6% higher, tracking strong gains on Shanghai, which breached the key CNY,22,000/ton level due to fund buying, setting off a rash of short-covering by China bears on Tocom, a trader in Thailand who participates in all major Asian rubber bourses says. A Tokyo-based broker says buy orders were also triggered after circuit breakers were tripped on Tocom; he tips next resistance at Y230/kg. Benchmark February rubber settles Y10.0 higher at 227.8/kg, off the intraday and one-week high of Y228.5/kg.
Source: Dow Jones