This entry was posted on Wednesday, September 30th, 2009 at 7:14 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.
Singapore – Tocom RSS3 rubber futures gain 2.6% on decline in Japanese inventories, higher demand from tire makers as companies shift U.S.-bound production out of China to avoid stiff import tax, traders say. “Buying by tire makers and weaker yen are supporting rubber prices,” says Japan-based broker. Toyo Tires shifting production meant for U.S. to Japan from China. “The transfer of production is underway and will be completed as soon as possible,” says Tokyo-based company executive. Benchmark Tocom March rubber futures trading Y1.5 higher at Y198.7/kg, after briefly rising above Y200/kg.
Source: MoneyControl.com