This entry was posted on Friday, August 22nd, 2014 at 5:58 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 slightly higher in rangebound trade ahead of the weekend due to the weak yen, which is likely to continue supporting Tocom although prices are likely to be stuck in the Y201-Y204/kg range as fundamentals remain little changed, says Kaname Gokon, deputy manager of research at Okato Shoji Co. He adds Tocom’s technical resistance is at Y213/kg, which is “far away” and unlikely to be met in the near term if there are no strong positive push factors on the supply or demand side. Benchmark January rubber settles Y0.8 higher at Y202.2/kg.
Source: Dow Jones