Tocom rubber futures settle 0.5% higher after gaining as much as 1.7% intraday to a fresh seven-month high of Y289/kg.
“Prices are going up too fast, there needs to be some downward correction before they can test new highs,” says a trader in Bangkok, adding that prices may correct to Y275/kg.
Tocom has already gained as much 12% in the month to date. Benchmark May rubber settles Y1.5 higher at Y285.7/kg.
Source: Dow Jones
