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Sunday, October 24, 2021

Tocom Rubber Settles Slightly Lower; Range-trade Eyed (July 14)

Tocom rubber futures settle slightly lower in a day of slow trade as prices find support around Y200/kg. Market sentiment remains weak and prices are likely to continue moving in the current range, says a Bangkok-based trader; “I don’t know what will move prices. After all, they’ve already fallen 30% this year,” he adds, reflecting a directionless sentiment hanging over the rubber trade now.

A Tokyo-based analyst pegs resistance at Y205/kg. Benchmark December rubber settles Y0.8 lower at Y200.5/kg, after moving in the Y200-Y202.9/kg range.

Source: Dow Jones

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