Tocom Rubber Higher In ‘Volatile And Confused’ Market
9 July 2015, 09:23 SEAST
Tocom RSS3 rubber futures are higher on a technical rebound after finding support around a Y200/kg level, but the gains may not last as Shanghai rubber is extending its decline, traders say.
A Singapore-based dealer says the market is “very volatile and confused” with Shanghai posting large swings in prices after hours on Wednesday.
International Rubber Consortium Chief Executive Yium Tavarolit says prices are likely to remain choppy as there no fresh cues to give investors clear direction.
Benchmark December rubber trades Y2.8 higher at Y204.6/kg.