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Tuesday, March 15, 2011
Tocom Rubber Hits 4-Month Low; Support At Y315/Kg
[Dow Jones] Tocom rubber futures fall as much as 13% after a trading halt set the market at a standstill
for most of the day session Monday; the market's still down, but "I think Tocom may have found a floor for now and traders are looking for good news to push it up after prices fell so much," a trader in Thailand says; he tips support
at Y315/kg. Trade resumed in the night session Monday after Tocom expanded its circuit breaker trigger to Y50; the Thai
government late Monday pledged to maintain local rubber prices at THB120/kg or above and requested the private sector to
temporarily suspend rubber exports. The benchmark Tocom August contract is Y35 lower at Y349.1/kg, but off a four-month
intraday low of Y335/kg.
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