Tocom Rubber Higher; El Nino Supports
5 March 2014, 08:51 SEAST
Tocom rubber futures are higher amid the low-production season, and as talk mounts about a possible El Nino this year that is associated with unusually dry weather conditions in Asia.
“That means the rubber market fundamentals will influence the currently weak market sentiment, and there is a chance that natural rubber prices on physical rubber markets will improve,” IRCo chief executive, Yium Tavarolit says in his weekly market report.
Benchmark August Tocom rubber trades Y4.6 higher at Y230.4/kg as Shanghai is also gaining after opening.