Tocom rubber futures settle 1.7% higher on upbeat data from China, where a preliminary gauge of manufacturing activity hit an 18-month high in July.
Gains may be short-lived, however, as activity on the physical market is slow; “futures are up but no buyers have called to trade today so I don’t think we will be seeing more upside,” says a Bangkok-based trader. Benchmark December rubber settles Y3.4 higher at Y205.0/kg.
Source: Dow Jones
