Tocom rubber futures settle higher after Monday’s selloff as the low-production season–which has just started–is supportive, encouraging short-covering and bargain-hunting even amid a decline in Shanghai rubber.
“The decline in natural rubber supply from [Thailand, Indonesia and Malaysia] will be more severe in the coming months,” says IRCo chief executive Yium Tavarolit.
The previous benchmark July rubber contract settles Y1.6 higher at Y218.8/kg.
Benchmark August rubber opened at Y219.5/kg and settles at Y219.1/kg.
Dow Jones
