Limited supply pushes Tokyo rubber up

Print this page Posted on : 10-10-2007 by recycleinme.com

Tokyo rubber futures rose slightly on Tuesday, with support form an easing yen and limited supply.

The benchmark rubber contract on the Tokyo Commodity Exchange for March delivery rose 1.0 yen to settle at 265.8 yen ($2.27) per kg. The weakening yen lent support, dealers said, as a strengthening dollar inflates yen-based rubber futures prices.

TOCOM prices were not expected to fall sharply and would be traded in a narrow range after they finished above the 14-day moving average of 259.9 yen, dealers said.

Source : Business Line