3 March 2013, 13:44 SEAST
Tocom rubber futures settle slightly higher on the back of a weaker yen but the upside is capped ahead of the outcome of BOJ’s two-day policy meeting, which ends Thursday.
IRCo chief secretary Yium Tavarolit notes current market uncertainty in his weekly report, saying that global macroeconomic cues trump rubber fundamentals, and that prices can move “in any direction” in the next few months.
Investors will be keeping their eyes on the yen’s movement in the aftermath of the BOJ meeting. Benchmark September rubber settles Y0.6 higher at Y261.7/kg, off the intraday high of Y265/kg.
Source: IRCo
