Thursday, December 3, 2009

[03 Dec] Tocom Rubber Rises Above Y256/Kg As Thai Output May Fall 12%


Natural rubber futures on the Tokyo Commodity Exchange rose above Y256 a kilogram Wednesday for the first time in 14 months amid strong fundamentals as investors took leads from a likely fall of at least 12% in Thailand's output this year to multi-year lows.
The benchmark May RSS3 grade contract on Tocom traded Y6.8 higher at Y256.1/kg.
"Strong fundamentals and speculative activity are driving up prices," said a broker in Tokyo.
Technical selling could ease prices slightly in afternoon trading, he added.

(Source: irco.biz)
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