This entry was posted on Wednesday, July 9th, 2014 at 4:48 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 0.9% lower and are likely to continue their lackluster performance for the rest of the week due to an overall weak market, Tokyo-based Okachi analyst Ryuta Imazeki says. The market is driven “totally” by technical factors, he says, with support at the psychologically significant Y200/kg level. Fundamentals do not bode well either, as production is increasing in major producing regions due to seasonal factors, he says. Benchmark December natural rubber settles Y1.9 lower at Y202.1/kg, after moving in the Y200.7-Y204.0/kg range.
Source: Dow Jones