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Thursday, October 21, 2021

Tocom Rubber Settles Slightly Higher; Gains May Not Last (July 8)

Tocom rubber futures settle slightly higher in a day of slow trade after tumbling 4.2% Monday but any gains may be short-lived due to persistent bearish sentiments, says a trader in Thailand.

“Buyers are all saying that prices will fall even more. Even though I don’t really believe them, they’re all bidding at really low and lousy prices, so it’s hard to see any upside to this market, particularly as raw material supply is picking up.” Benchmark December rubber settles Y0.8 higher at Y204.0/kg.

Source: Dow Jones

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