Tocom rubber futures settle lower in a day of slow trade with just about 4,500 lots changing hands. Traders say the rubber market is stuck as a result of forecasts of a large surplus this year–although slow arrivals because of Ramadan are supporting prices at current levels.
Traders will now watch for China’s HSBC flash July PMI due Thursday to gauge industrial demand there. Benchmark December rubber settles Y0.7 lower at Y201.6/kg after moving between Y200.1 and Y203.9/kg range.
Source: Dow Jones
