TOKYO, Aug 31 (Reuters) – Benchmark Tokyo rubber futures fell for a second day, falling 1.3 percent, tracking weak Shanghai futures and an oil price decline. The losses in Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, were limited by a weaker yen against the dollar.
The U.S. dollar was quoted near a one-month high of 103.13 yen JPY= , compared with around 101.90 yen on Tuesday afternoon. USD/ “Weak undertones in Shanghai futures and the oil price drop hurt TOCOM,” said a Tokyo-based source with a broker.
The Tokyo Commodity Exchange rubber contract for February delivery JRUc6 0#2JRU: finished 2 yen lower at 152 yen ($1.47) per kg. The most-active rubber contract on the Shanghai futures exchange for January delivery SNRcv1 fell 325 yuan to finish at 12,055 yuan ($1,805.18) per tonne. The front-month rubber contract on Singapore’s SICOM exchange for September delivery STFc1 last traded unchanged at 126.1 U.S.cents per kg.
($1 = 6.6780 Chinese yuan renminbi) ($1 = 103.1800 yen)
(Reporting by Osamu Tsukimori; Editing by Christian Schmollinger)
