Asian rubber futures finished marginally lower on Monday amid a stronger yen that put pressure on rubber markets in Japan.
The Tokyo Commodity Exchange rubber contract for April delivery finished 0.6 yen lower at 159.9 yen per kilogram.
Trading was “mostly light” during the day “guided by a slowing demand,” particularly from top-buyer China, says Kaname Gokon, an analyst at Okato Shoji brokerage. He adds the “trend will continue” until demand improves.
The most active rubber contract on the Shanghai futures exchange for January delivery was up CNY30 to settle at CNY10,880 ($1,715) a metric ton.
Asian Rubber Futures November 02 Change from previous close Tocom Apr RSS3 Y159.9/Kg Down Y0.6 Shanghai Jan SCR5 CNY10,880/ton Up CNY30 Thai Jun RSS3 THB46.80/Kg Down THB0.20 Sicom Apr RSS3 130.5 US cents/Kg Down 1.8 US cents/Kg Sicom Apr TSR20 117.8 US cents/Kg Down 1.0 US cents/Kg Asian Physical Rubber Grade Shipment Nov. 02 RSS3 Dec/Jan 124-125 STR20 Dec/Jan 124-125 SIR20 Dec/Jan 120-121 SMR20 Dec/Jan 123-124 SVR3L Dec 130 USS Dec 38.65-THB38.81/Kg THB38.69-THB38.81/Kg