This entry was posted on Wednesday, February 10th, 2010 at 7:21 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, Feb 10 (Reuters) – Tokyo rubber futures rose further
on Wednesday, supported by a recovery in stock markets and
limited supply in the physical market, dealers said.
* The benchmark rubber contract on the Tokyo Commodity
Exchange for July delivery <0#JRU:> rose 6.3 yen to settle at
276.5 yen ($3.09) per kg.
* TOCOM rubber rebounded from its lowest in nearly two months
on Monday as concerns about global economic stability subsided,
dealers said.
* Japan’s Nikkei stock average <.N225> was up 1.1 percent.
[.T]
* The Dow posted its largest one-day percentage gain in three
months on Tuesday. [.N]
* Technical sentiment on rubber futures improved after prices
stayed above key resistance at 270 yen per kg, they said.
* Limited supply on the physical market provided additional
support as rubber trees in some parts of Thailand, the world’s
biggest exporter, shed leaves and gradually stopped producing
latex.
($1=89.62 Yen)
Source: Reuters