TOKYO, Nov 18 (Reuters) – Benchmark Tokyo rubber futures ended down 1.7 percent on Friday, tracking sharp declines in Shanghai futures, but the fall was limited by a weaker yen against the dollar. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, fell from a 16-month high of 217.1 yen hit on Thursday. For the week, it rose 1.9 percent. “The overnight sharp fall in Shanghai futures hurt TOCOM, but a weaker yen offset the decline,” said a Tokyo-based dealer.
The Tokyo Commodity Exchange rubber contract for April delivery JRUc6 0#2JRU: finished 3.6 yen lower at 209.5 yen ($1.89) per kg. The dollar hit a 5-1/2-month high against the yen on Friday and was quoted around 110.67 yen.A weaker yen makes yen-denominated commodities cheaper for holders of other currencies.
The most-active rubber contract on the Shanghai futures exchange for January delivery SNRcv1 fell 295 yuan to finish at 16,185 yuan ($2,349) per tonne.The contract on Monday hit 16,945 yuan, its highest since June 3, 2015.
The front-month rubber contract on Singapore’s SICOM exchange for December delivery STFc1 last traded at 166 U.S.cents per kg, down 5 cents.
($1 = 110.6500 yen)
($1 = 6.8907 Chinese yuan)
(Reporting by Osamu Tsukimori; Editing by Amrutha Gayathri)
