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Thursday, October 28, 2021

Tokyo rubber futures fall, dragged lower by Shanghai (July 10)

TOKYO, July 10 (Reuters) – Benchmark Tokyo rubber futuresfell 0.4 percent on Thursday, dragged lower by weak Shanghaifutures, on uncertainty about rubber demand by the world’s topconsumer.

The benchmark rubber contract on the Tokyo CommodityExchange (TOCOM) for December delivery fell 0.9 yen tosettle at 201.2 yen ($1.99) per kg.

“Though the rubber supplies are on the rise recently, therehas been no clear-cut buying or selling,” said a Tokyo-basedbroker who declined to be named.

Weak global crude prices also cast some downward pressure onthe rubber market, dealers said.

The most-active rubber contract on the Shanghai futuresexchange for September delivery fell 55 yuan to finishat 13,930 yuan ($2,200) per tonne.

The front-month rubber contract on Singapore’s SICOMexchange for August delivery last traded at 166.80 U.S.cents per kg, down 0.5 cent.

($1 = 101.3300 Japanese Yen)

($1 = 6.2023 Chinese Yuan Renminbi)

(Reporting by Osamu Tsukimori, editing by David Evans)

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