TOKYO: Tokyo Commodity Exchange (Tocom) rubber futures rebounded on Wednesday tracking marginal gains in crude oil even as the Eurozone industrial data for September released later in the day turned out to be weak suggesting further economic contraction in the region.
TOCOM April contract rose close to 6 yen per kg in morning and evening session combined at 248.6 Yen per kg. WTI Crude Oil December contract has risen marginally in electronic trading on Wednesday which is supportive of natural rubber prices.
China’s new leaders will be unveiled on Thursday at the ruling communist party congress, setting the tone for economic reforms in the world’s most populous nation and the world’s biggest rubber consumer, Reuters reported.
Source: Rubber Country
