[Dow Jones] Tocom RSS3 rubber futures settle higher on buying interest in cash market, rise in crude oil prices to levels above $70/barrel, traders say. “Large importers are looking for August shipments of rubber,” says Tokyo-based broker; adds rubber prices likely to rise above Y160/kg near-term. Nymex, light, sweet crude for August delivery trading 59 cents higher during electronic trading at $70.82/barrel. “Rubber is still undervalued, there is upside potential due to fundamentals, provided the strong yen doesn”t play spoilsport,” says Singapore-based analyst. Benchmark Tocom RSS3 December rubber futures settles Y2.1 higher at Y159.6/kg. (SAM)

Source: Dow Jones

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