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Wednesday, July 6, 2022

Tocom Rubber Settles Lower Despite Weak Yen (Sept 19)

Tocom rubber futures fall 1.6% despite the yen falling to a fresh six-year low as a decline in Shanghai rubber weighs.

Although China is restocking amid a fall in Qingdao inventory, stockpiles in the country are still relatively high.

Therefore, “Chinese buyers are in no hurry yet right now–maybe in a few months if stocks continue to drop,” says a trader in Singapore. Benchmark February rubber settles Y3.0 lower at Y189.2/kg.
Source: Dow Jones

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