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17 Dec 2012: Tocom Rubber Settles Higher on Yen; Y300/Kg Eyed

Tocom rubber futures settle 2.8% higher after gaining as much as 3.1% to a seven-month high due to the weak yen and as the Chinese government will be granting preferential tariff rates for a range of imports, including some grades of natural rubber, say traders. A trade participant in Bangkok says Tocom may succumb to some profit-taking after two straight days of strong gains, but the downside may be limited on bullish sentiment; “we may see price heading to Y300/kg this week,” he added. Benchmark May rubber settles Y7.8 higher at Y284.2/kg, off the intraday high of Y285/kg.

Source: Dow Jones

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« 14 Dec 2012: Tocom Rubber Settles Higher; Focus on Japan Polls
18 Dec 2012: Tocom Rubber Settles Higher; May Correct To Y275 »

This entry was posted on Monday, December 17th, 2012 at 5:29 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.

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