This entry was posted on Thursday, December 24th, 2009 at 7:44 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 settle higher following strong buying as investors take leads from rise in crude, funds roll over positions to next month. “Bullish crude oil is supporting rubber prices today,” says Singapore-based analyst. Rolling over of contracts by funds yet to pick up momentum but few hundred lots moved to June from May contract by funds, says broker in Tokyo. Nymex light, sweet crude for February delivery traded above USD77/bbl during Asian trading hours. Benchmark Tocom June contract settles Y5.1 higher at Y274.9/kg after reaching intraday high of Y275.7, level not seen since September 2008.
Source: Moneycontrol.com