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Wednesday, July 6, 2022

Tocom Rubber Settles Higher; Y200/Kg Resistance: 26 Sep 2014

Tocom rubber futures settle higher tracking gains in Shanghai rubber and as a weak yen is supportive, although prices are well under the psychological Y200/kg level and near five-year lows on persistent weak sentiment amid forecasts of a supply surplus this year.

Many traders are still bearish, as there are little signs of improving demand appetite even in the depressed market; “trade is very slow compared to this time in the last few years,” says a trader in Singapore. Benchmark March rubber settles Y4.5 higher at Y185.4/kg.

Source: Dow Jones

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