Tokyo Commodity Exchange (TOCOM) futures dipped to a 3-month low on Thursday, extending losses into a third day, as technical selling gathered speed, amid oversupply concerns. The benchmark TOCOM rubber contract for December delivery finished 1.9 yen, or 1.0%, lower at 182.7 yen ($1.69) per kg.
The most-active rubber contract on the Shanghai futures exchange for September delivery rose 15 yuan to finish at 11,260 yuan ($1,638) per tonne, after hitting the highest since April 2 of 182.0 yen earlier in the session. TOCOM’s technically specified rubber (TSR) 20 futures contract for January delivery closed down 1.4% at 151.4 yen per kg. The front-month rubber contract on Singapore’s SICOM exchange for August delivery last traded at 144.0 US cents per kg, down 0.6%.