Tocom Rubber Up; Fundamentals Still Supportive
30 April 2014, 08:57 SEAST
Tocom RSS3 rubber futures are higher, catching up with gains in regional rubber futures Tuesday when Tocom was closed for a public holiday.
IRCo chief executive, Yium Tavarolit in his market report this week says that rubber was oversold in the last week and supply-demand fundamentals “still lend some support to (the) current” market.
Most investors are eyeing resistance at Y210/kg; trade may be slow ahead of the Labor Day public holiday Thursday in many parts of Asia. Benchmark October rubber trades Y1.2 higher at Y207.5/kg, after moving in the tight Y206.7-Y209.0/kg range.