Tocom rubber futures settle higher with prices finding some support on slow arrivals as well as falling stocks at Qingdao–which are down about 4.8% this month to 249,500 metric tons as of Aug. 15, traders say. The information is not publicly available. Still, Tocom is below Y200/kg–keeping market sentiment weak and traders wary of further declines.
“I am not taking any positions now in futures and only sell on the spot market if the price is right–which isn’t often,” a trader at a large Thailand exporter says. Benchmark January rubber settles Y0.6 higher at Y197.5/kg after moving in the Y195.0-Y198.2/kg range.
Source: Dow Jones
