Tocom rubber futures settle 2% higher in line with equities as most investors cheer the EU”s plan to contain the debt crisis; fundamentals have been stable recently but external cues are inducing volatility in prices, IRCo chief secretary Yium Tavarolit says; traders peg resistance at Y300/kg with Tocom weighed by a strong JPY. Benchmark April rubber settles Y6 higher at Y299.9/kg, off the intraday high of Y300.7/kg.

Source: Dow Jones

Tocom rubber futures settle mostly lower due to caution as the cancelled Ecofin meeting raises concerns over whether a euro-zone deal will emerge at the EU summit later Wednesday; a strong JPY also weighs, but the bourse”s weakness is limited as Shanghai reverses losses; traders are awaiting cues from the summit; Okato Shoji deputy general manager Kaname Gokon pegs support at Y290/kg and resistance at Y300/kg. The new benchmark April contract settles at Y293.9/kg after opening at Y292.5/kg; the previous benchmark, March, settles Y4.5 lower at Y293.3/kg, off an intraday low of Y286.2/kg.

Source: Dow Jones