This entry was posted on Thursday, May 8th, 2014 at 4:53 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 1.1% higher on a technical rebound after falling 5.0% Wednesday due to concerns over an increase in surplus this year. An analyst in Singapore says despite a larger surplus expected this year after the Thai government said it was selling its stockpile, seasonally tight supply is giving some support to Tocom Thursday as production has likely dropped on-year even amid the wintering season due to a dramatic decline in prices this year, which disincentivizes tapping activities. Benchmark October rubber settles Y2.1 higher at Y199.3/kg, after moving in the Y198.2-Y200.4/kg range.
Source: Dow Jones