Tokyo rubber at 2-week low

Print this page Posted on : 08-09-2007 by recycleinme.com

Tokyo rubber futures fell 1 per cent to a two-week low as worries about increasing supplies in producing countries sparked another round of selling. Supplies of raw material have picked up in Thailand and Malaysia after rains in the region subsided. The dry wintering season was under way in the southern part of Indonesia’s main growing island of Sumatra but there were no disruptions in supply yet. The most-active rubber contract on the Tokyo Commodity Exchange for January 2008 delivery hit an intraday high of 259 yen per kg before slipping to a two-week low of 253.5 yen. It closed down 2.9 yen or 1.1 per cent at 254.8 yen.

Source : Business Line