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.
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