Benchmark Tokyo rubber futures ended down 2.2 percent on Friday as extended declines in Shanghai futures weighed on markets, while the yen's pullback from a nine-month trough against the dollar also hurt sentiment. "TOCOM followed Shanghai futures lower, while a stronger yen also dragged," said a Tokyo-based dealer. "Speculative investments also may be unwinding after a recent build-up." The Tokyo Commodity Exchange rubber contract for May delivery finished 5.2 yen lower at 229.7 yen ($2.01) per kg. For the week, the contract, which hit a 1-1/2 year high of 245.6 yen on Tuesday, fell 3 percent, the first decline in four weeks.
The most-active rubber contract on the Shanghai futures exchange for May delivery fell 120 yuan to finish at 18,015 yuan ($2,616.98) per tonne. The contract on Monday rose to as high as 19,615 yuan, the highest since April 2, 2014. The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 170.80 US cents per kg, down 0.5 cents.
Comments
Comments are closed for this article.