TOKYO (June 22): Benchmark Tokyo rubber futures snapped a three-day losing streak on Thursday, but gains were limited as Shanghai futures erased early gains while oil stayed near multi-month lows.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, had fallen 7.3% in the past three sessions.
“TOCOM rebounded from recent declines,” said a Tokyo-based dealer.
The Tokyo Commodity Exchange rubber contract for November delivery finished 3.2 yen higher at 189.5 yen (US$1.71) per kg.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 115 yuan to finish at 12,410 yuan (US$1,816) per tonne, extending declines for a fourth day.
The front-month rubber contract on Singapore’s SICOM exchange for July delivery last traded at 138 US cents per kg, down 1.6 US cent.
(US$1 = 111.0400 yen)
(US$1 = 6.8322 Chinese yuan)
