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Tokyo rubber futures fall as Shanghai hits 3-mth low (Nov. 13)

TOKYO, Nov 13 (Reuters) – Benchmark Tokyo rubber futures ended down 0.3 percent on Wednesday, coming under pressure as the Shanghai futures touched a three-month low, dealers said.

The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for April delivery fell 0.8 yen to settle at 257.8 yen ($2.59) per kg. The market stood fairly close to a near three-month low of 253.5 yen hit on Nov. 5.

The most-active rubber contract on the Shanghai futures exchange for May delivery fell 30 yuan to finish at 19,250 yuan ($3,200) per tonne. It touched 19,090 yuan at one point, the lowest since Aug. 8.

“Really the market stays little changed amid a lack of market moving news,” said a broker. “The three-month low in Shanghai is putting some pressure, and the fund activity is seen minimal.”

Crude rubber inventories at Japanese ports stood at 5,697 tonnes as of Oct. 30, rising 7.2 percent from 10 days earlier, data from the Rubber Trade Association of Japan showed on Wednesday.

The front-month rubber contract on Singapore’s SICOM exchange for December delivery last traded at 228.0 U.S. cents per kg, down 1.0 cent.

($1 = 99.5550 Japanese yen)

($1 = 6.0919 Chinese yuan)

(Reporting by Osamu Tsukimori; Editing by Supriya Kurane)

Source: Reuters

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