IRCo's WEEKLY MARKET SNAPSHOT: 18 - 22 October 2010

IRCo's DCP fell to 394.96 US cents/kg on Friday from 395.89 US cents/kg on Monday or down 0.93 US cent/kg as rubber futures players tried to unwind their long positions for profit-taking. However, strong market fundamentals still lent support for the rubber price to stay firm at high levels in physical markets.

A quarter percentage point increase of China's benchmark lending and savings interest rates on Tuesday shocked investors into rapid selling of securities worldwide, while critics were trying to interpret and to find out what were behind closed doors.

The two-day G-20 Finance Ministers' Meeting in Gyeongju, South Korea, on the weekend could calm down foreign exchange markets during the week for a while, and it is hoped that no one will be a scapegoat of the Meeting.  

(irco.biz)