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29 Sep 2014: Tocom Rubber Settles Lower as Near-Month Demand Weak

Tocom rubber futures settle 1.5% lower and there may be further downside risk due to a deep contango on Tocom, which indicates that near-month demand is weak in Japan, says Kaname Gokon, deputy general manager of research at brokerage Okato Shoji in Tokyo. Gokon pegs support at Y180/kg. He adds Shanghai rubber may also be subject to further declines ahead of the Golden Week holidays that start Wednesday. Benchmark March Tocom rubber settles Y2.7 lower at Y182.7/kg.

Source: Dow Jones

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This entry was posted on Tuesday, September 30th, 2014 at 9:14 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.

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