DJ Tocom Rubber Settles Lower; Y185/Kg Support -- Market Talk
Tocom rubber futures settle 1.3% lower as Shanghai rubber extends its decline. Investors are likely to emerge from the sidelines when natural rubber prices match those of the lower grade compound rubber, says Gu Jiong, an analyst at Yutaka Shoji Co., a broker in Tokyo. But sentiment remains weak and "technically, no support line can be drawn," says Mr. Gu, adding that physical demand could remain weak even if prices of the two grades are comparable. He pegs immediate support at Y185/kg. Benchmark February rubber settles Y2.4 lower at Y188.6/kg, off the fresh five-year low of Y187/kg. (huileng.tan@wsj.com; Twitter: @huileng_tan)
??�: Dow Jones Newswires
