Tocom RSS3 rubber futures settle higher after gaining as much as 8.1% intraday; the
recovering physical market is supporting Tocom, as the Thai government pledges support for prices by calling for minimum
prices and even an export halt after prices fell sharply last month due to external factors. "Tocom may test Y400/kg if
physical prices holds up above THB120/kg," says a Thailand-based trader, referring to the Thai government's minimum set
price level for local rubber prices. Tocom may still be weighed by pre-weekend profit-taking Friday, particularly if
the nuclear situation in Japan remains uncertain. The benchmark Tocom August contract settles Y27.9 or 7.6% higher at
Y396.9/kg, off the intraday high of Y399/kg.
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