[Dow Jones] Tocom rubber futures settle higher after moving both ways in volatile trade; investors build up long positions on spillover support from crude oil, strong physical demand in China, India. China”s compound rubber imports may rise 50% on-year, says Association of Natural Rubber Producing Countries. Japan”s Bridgestone Corp. has announced it will begin producing bus, truck tires at Indian plant from first half of next year in response to growing demand. “Rubber prices fell due to technical selling during intraday trading, but recovered again because of positive leads from crude oil,” says Tokyo-based trader. Benchmark July rubber contract settles Y2.6 higher at Y284.9/kg after reaching an intraday low of Y281.3/kg. (HLN)

Source: Dow Jones

Comments are closed.