Bullish trend seen for rubber prices

Based on an analysis of the Tokyo Commodity Exchange (TOCOM) rubber prices, Jupiter Securities chief market strategist Benny Lee(filepic) said this was supported by expectations of crude oil prices heading towards US$60 and the US dollar weakening against the Japanese yen, among other factors.

KUALA LUMPUR: Rubber prices are seen heading upwards until 2018, with the recent steady increase in prices this year indicating that traders are willing to buy at higher prices following a long bearish trend since 2011.

Based on an analysis of the Tokyo Commodity Exchange (TOCOM) rubber prices, Jupiter Securities chief market strategist Benny Lee said this was supported by expectations of crude oil prices heading towards US$60 and the US dollar weakening against the Japanese yen, among other factors.