TOKYO: Japanese rubber futures fell on Friday, hit by a stronger yen and as investors took profits after prices surged to a more than seven-week high in the previous session, although they managed to book a fourth straight monthly gain.
Osaka Exchange's (OSE) rubber contract for January delivery finished 1.2 yen, or 0.7%, lower at 163.6 yen ($1.56) per kg. For the month, it rose 5.9%. The most-active rubber contract on the Shanghai futures exchange for September delivery fell 185 yuan to finish at 10,840 yuan ($1,555) per tonne, after hitting the highest since early March the previous day.
The front-month rubber contract on Singapore's SICOM exchange for September delivery last traded at 122.4 US cents per kg, up 0.4%. Rubber inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.9% from last Friday, the exchange said.
Japan's benchmark rubber contract was shifted from the Tokyo Commodity Exchange (TOCOM) to the OSE on Monday, as part of a rearrangement of trading after the Japan Exchange Group Inc (JPX) took over the TOCOM last year. The JPX, which runs the Tokyo Stock Exchange (TSE), also owns the OSE.