This entry was posted on Saturday, December 13th, 2008 at 9:46 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 lower though rebounds off Y100/kg, indicates market may have found a floor at that level, says trader in Tokyo. “We”ve had a few tests of the Y100/kg mark in recent weeks and it appears to be holding. It”s too early to says that”s a floor as there is a lot of uncertainty around, but it didn”t break this afternoon, despite all the bearish news, which is a good sign.” Automakers bailout collapse, weak crude oil prices, strong yen vs dollar factors for today”s fall, trader says. Benchmark May RSS3 contract settles Y4.2 lower at Y105.8/kg. (ANJ)
Source: Dow Jones Newswires