This entry was posted on Thursday, January 9th, 2014 at 4:50 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 0.7% higher on a weaker yen and as Shanghai rubber is in positive territory. Also helping is news that China’s motor-vehicle sales rose 14% in 2013, the strongest gain in three years, boosted by solid demand. Sales of automobiles including both passenger and commercial vehicles reached a record 21.98 million units last year, the government-backed China Association of Automobile Manufacturers said in a statement Thursday. Tocom trade may face some downside risk Friday ahead of the long weekend, as Monday is a public holiday in Japan. Traders will also be focusing on U.S. non-farm payrolls due Friday for further cues. Benchmark June rubber settles Y1.7 higher at Y257.0/kg, off the intraday high of Y259.8/kg.
Source: Dow Jones