Tokyo rubber sinks 5%
|
|
|
Key Tokyo rubber futures fell 5 per cent on Tuesday, pressured by sinking crude oil prices, to hover slightly above ¥180. The Tokyo Commodity Exchange rubber contract for April delivery fell to a trough of ¥180.3 per kg in the morning session, down ¥10.1 or 5.3 per cent.
Traders expect TOCOM rubber to trade around 160-200 yen, the range it has been trapped between since mid-October, for the time being. "It's a question of whether investors, led by funds, can feel comfortable and want to return to the market,'' a Tokyo trader said. A crucial point will be whether TOCOM rubber can manage to remain above ¥153.4 marked in late October, which was the lowest level since July 2005, he said.
|
|
|
|
Source : Business Line |
|
|
|
|
|
RecycleINme.com. All Rights Reserved
