SHANGHAI: Japanese rubber futures fell for the third straight session on Monday, as traders booked profits after a recent rally and as the yen firmed.
The Osaka Exchange (OSE) rubber contract for June delivery fell 2.1 yen, or 0.6 percent, to 350 yen (USD2.22) per kg. The rubber contract on the Shanghai Futures Exchange (SHFE) for May delivery lost 170 yuan, or 1.07 percent, to 15,745 yuan (USD2,261.30) per metric ton.
The most-active March butadiene rubber contract on the SHFE shed 400 yuan, or 3.33percent, to 11,605 yuan per ton.
Prices took a breather after rallying to nine-month highs in recent weeks, driven by strong physical demand and Chinese buying ahead of the Lunar New Year, Japan Exchange Group said in a report. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.6percent from last Friday, the exchange said.
The dollar fell as investors, unnerved by US President Donald Trump’s latest tariff threats against Europe over Greenland, piled into the safe-haven yen.
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