This entry was posted on Tuesday, September 23rd, 2014 at 8:31 am 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 sharply lower after Shanghai rubber hit the 5% daily lower price limit and as the yen strengthened slightly against the dollar. A Bangkok-based trader says the market is primarily speculative and Chinese traders who are driving the market are looking at Tocom hitting Y160/kg. “They don’t need a reason, just a collective guess,” he adds. Rubber market sentiment has been persistently weak this year due to forecasts of a supply surplus amid large stockpiles. Benchmark February rubber settles Y5.7 lower at Y183.5/kg, off the fresh five-year low of Y183/kg.
Source: Dow Jones