This entry was posted on Tuesday, January 26th, 2010 at 8:03 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.
BANGKOK, Jan 26 (Reuters) – Tokyo rubber futures dropped
again on Tuesday as players kept unwinding contracts after seeing
oil prices continue to fall, dealers said.
* The newly listed benchmark contract on the Tokyo Commodity
Exchange <0#JRU:> for July delivery fell 3.8 yen from the opening
price to settle at 286.2 yen ($3.19) per kg. The previous
benchmark, June, fell 2.0 yen to finish at 284.0 yen per kg.
* Oil tumbled below $75 a barrel on Tuesday, approaching
one-month lows, after higher reserve ratios for selected Chinese
banks took effect, rekindling concern that tightening measures by
the world’s second-largest oil consumer would curb demand.
[ID:nSGE60P03C]
* Dealers said TOCOM prices were expected to be volatile,
moving in line with oil prices. However, TOCOM was unlikely to
fall sharply as a drop in supply in the physical market should
provide support.
($1=89.76 Yen)
Source: Reuters