This entry was posted on Wednesday, November 25th, 2009 at 9:41 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.
[Dow Jones] Tocom RSS3 rubber futures settle higher as investors scramble to set up long positions due to bullish outlook amid heavy rains in rubber growing regions, gains in other commodities. Since Tocom was closed yesterday, sharp rise in prices was expected today, to catch up with other rubber trading bourses, says exporter in Singapore. “The rise in Shanghai rubber futures and global gold prices are among the reasons pushing up the Tocom (rubber) market,” says broker in Tokyo. Most traders put immediate resistance at Y250/kg. Benchmark Tocom April contract settles Y4.1 higher at Y247.5/kg after reaching intraday high of Y250/kg, level not seen since October last year. (SAM)
Source: Dow Jones