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Markets Print edition: 2019-12-19

Tokyo rubber falls

Published Updated

Tokyo Commodity Exchange (TOCOM) futures ended lower on Wednesday, tracking weakness in Shanghai futures and oil prices. TOCOM's rubber contract for May delivery closed 1.4 yen ($0.0129) down at 199.5 yen per kg. In early trade, it was hovering near a six-month high hit last week amid US-China trade optimism.

The most-active rubber contract on the Shanghai futures exchange for May delivery fell 135 yuan ($19.18) to finish at 13,050 yuan per tonne. China's new technically specified rubber (TSR) 20 futures contract was last down 130 yuan at 10,880 yuan per tonne.

The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 144.6 US cents per kg, down 1.6%.

The US dollar was quoted around 109.44 yen, compared with around 109.47 yen on Tuesday afternoon.

Oil prices fell on Wednesday after US industry data showed a surprise build in crude inventories, but expectations for firmer demand next year prevented a bigger fall in prices.

Japan's benchmark Nikkei stock average was down 0.55%.

Copyright Reuters, 2019

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