date:Sep 24, 2012
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The overseas market was down yesterday and this morning theDalian market was down, so the futures market is undertremendous pressure on long liquidation and speculativeshort-selling, said a trader with a foreign commoditiesbrokerage in Malaysia.
Technicals also don't look good as prices broke below 2,800ringgit with immediate support at 2,754 ringgit.
At the close, the benchmark December contract onthe Bursa Malaysia Derivatives Exchange had lost 2 percent to2,763 ringgit ($905) per ton