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Wednesday, July 6, 2022

TOCOM rises despite drop in Shanghai futures

Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, rose on Monday despite a fall in Shanghai rubber futures

The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery  finished 2.2 yen ($0.0197) higher at 206.2 yen per kg

The most active rubber contract on the Shanghai futures exchange for May delivery fell 155 yuan ($23.13) to finish at 12,495 yuan per tonne

*”Support from favourable news earlier from Sino-U.S. trade talks has basically been released. Rubber prices are expected to remain weak if there’s no other major news,” said Cao Lu, senior analyst with Orient Futures

TOCOM’s technically specified rubber (TSR) 20 futures contract for September delivery closed up 1.9 yen at 174.3 yen per kg

The front-month rubber contract on Singapore’s SICOM exchange for April delivery last traded at 149 U.S. cents per kg, down 0.3 percent.

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