This entry was posted on Friday, October 30th, 2009 at 8:31 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.
Singapore – Tocom RSS3 rubber futures settle lower on profit taking, spillover weakness from lower crude oil, traders say. “After several days of gains, investors are liquidating positions,” says Tokyo-based trader; adds many institutional funds are yet to roll over their March positions to April. As crude oil has failed to stay above $80/bbl, rubber prices have also eased, says analyst in Singapore. Most traders expect immediate support at Y225/kg. Benchmark Tocom April contract settles Y3.6 lower at Y226.1/kg after reaching intraday low of Y223.8/kg.
Source: moneycontrol.com