TOKYO (May 9): Benchmark Tokyo rubber futures rebounded to end 1% higher on Tuesday after earlier hitting a near three-week low, as a weaker yen that makes yen-denominated commodities cheaper for holders of other currencies helped erase early losses, brokers said.
The Tokyo Commodity Exchange rubber contract for October delivery finished 2.1 yen higher at 208.7 yen (US$1.84) per kg after marking its lowest since April 20 in night trading at 204.5 yen.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 105 yuan to finish at 13,630 yuan (US$1,974) per tonne after hitting 13,410 yuan, the lowest since Sept. 1.
The front-month rubber contract on Singapore’s SICOM exchange for June delivery last traded at 148 US cents per kg, up 1 US cent.
In market news, China’s Commerce Ministry said it has extended anti-dumping tariffs on chloroprene rubber from Japan, the United States and European Union for five years.
(US$1 = 113.7000 yen)
(US$1 = 6.9057 Chinese yuan)
