Tokyo rubber prices closed higher Tuesday to buck a region-wide trend as the upward move in the U.S. dollar against the Japanese yen helped offset fundamental weakness in the market.
The haven appeal of the Japanese yen, which reached its strongest level in a week against the dollar on Monday, saw a reversal Tuesday. During the session the Japanese yen touched its weakest level in a week, last at ¥123.38 per U.S. dollar compared with ¥123.15 late Monday in Asia.
However, rubber prices broadly remained soft as markets continued to worry about demand and the size of stocks of rubber available in the market.
Asian Rubber Futures
Nov 17 Change from previous close
Tocom Apr RSS3 Y157.7/Kg Up 1.4/Kg
Shanghai Jan SCR5 CNY 10,495/Ton Down CNY175/ton
Thai Jun RSS3 THB46.20/Kg Down THB1.15/Kg
Sicom Feb RSS3 US 126.8 Cents/Kg Down US 1.3 Cents/Kg
Sicom Feb TSR 20 US 115.90 Cents/Kg Down US 0.2 Cents/Kg
Asian Physical Rubber
Grade Shipment Nov 17 Nov 16
RSS3 Dec/Jan 121/122 122/123
STR20 Dec/Jan 121/122 122/122
SIR20 Dec/Jan 120/121 121/122
SMR20 Dec/Jan 117/118 117/118
SVR3L Dec 122/123 122/123
USS THB37.95-THB38.24/Kg THB38.02-THB38.25/Kg
