Tocom RSS3 rubber futures rise, taking cues from Monday’s rise on Wall Street. However, Tocom is stuck in a tight range and is so far unable to breach the Y260/kg resistance decisively due to investor caution ahead of China’s 3Q GDP data due Thursday.
IRCo chief secretary Yium Tavarolit says in a weekly market report that technicals for natural rubber prices indicate an uptrend this week, although overall movement may remain volatile.
Benchmark March rubber trades Y1.8 higher at Y259.9/kg, after trading in a tight Y257.1-Y260.7/kg range.
Source: Dow Jones
