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19 Sep 2014: Tocom Rubber Settles Lower Despite Weak Yen

Tocom rubber futures fall 1.6% despite the yen falling to a fresh six-year low as a decline in Shanghai rubber weighs. Although China is restocking amid a fall in Qingdao inventory, stockpiles in the country are still relatively high. Therefore, “Chinese buyers are in no hurry yet right now–maybe in a few months if stocks continue to drop,” says a trader in Singapore. Benchmark February rubber settles Y3.0 lower at Y189.2/kg.

Source: Dow Jones

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This entry was posted on Friday, September 19th, 2014 at 5:34 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.

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