TOKYO (Sept 25): Benchmark Tokyo rubber futures for new March delivery closed lower from their opening price on Tuesday as a fresh round of US-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth.
“There are concerns about the US-China tariff war having a negative impact to Japanese automobile and tyre manufacturers,” said a Japanese trading house.
The most-active rubber contract on the Shanghai futures exchange for January delivery rose 30 yuan to finish at 12,535 yuan (US$1,826) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for October delivery last traded at 132.9 US cents per kg, down 0.4 cent.
(US$1 = 6.8631 Chinese yuan renminbi)
(US$1 = 112.9100 yen)