This entry was posted on Monday, September 29th, 2008 at 8:23 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 lower, benchmark at six-month low, as funds continue to liquidate long positions amid an increasingly bearish outlook, says trader. Adds further downside now highly likely due to absence this week of world”s biggest consumer, China, for holiday; backwardation easing, with nearby contracts sharply lower, indicative of slowing demand, increasing production in Thailand, Malaysia; Tocom likely to test next support at Y265/kg in coming sessions. Benchmark March RSS3 contract settles Y9.5 lower at Y266.9/kg.
Source: Dow Jones Newswires