This entry was posted on Thursday, December 20th, 2012 at 6:56 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 1.7% lower in a day of profit-taking after four straight days of gains; overall negative market over the U.S. fiscal cliff weighs. Tocom may continue to see further losses Friday ahead of the weekend and year-end holidays, say traders. Bangkok-based DS Futures analyst Chaiwat Muenmee says Tocom is likely to continue falling with key support at Y275/kg before staging a rebound, which may come as soon as next week due to supply-demand fundamentals. Benchmark May rubber settles Y4.9 lower at Y282.8/kg, off the intraday low of Y281.7/kg.
Source: Dow Jones