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Tocom Rubber Settles Higher But Uncertainty Still Weighs

5 March 2013, 13:43 SEAST

Tocom rubber futures settle 1.3% higher on bargain-hunting as supply tightens due to the start of the low-production season, say traders. However, any upside is limited due to the uncertain global macroeconomy. IRCo chief secretary Yium Tavarolit says external factors will be key to the rubber price outlook this week.

The yen’s movement also continues to be a focus, say trade participants. Most tip key resistance at Y300/kg. Benchmark August rubber settles Y3.6 higher at Y287.5/kg, off the intraday high of Y289/kg.

Source: Down Jones

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