TOKYO (July 31): Benchmark Tokyo rubber futures closed up 0.6% on Monday on the back of gains in oil prices to a two-month high.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, gained after touching a near two-week low in the night session.
“Tokyo markets were little changed as only a small number of players were trading,” said a Tokyo-based broker.
The Tokyo Commodity Exchange rubber contract for January delivery finished 1.2 yen higher at 205.7 yen (US$1.86) per kg.
The most-active rubber contract on the Shanghai futures exchange for January delivery fell 340 yuan to finish at 15,325 yuan (US$2,279) per tonne.
Shanghai futures came under pressure from a massive interest among participants to roll over positions to the new benchmark January contract, the broker said.
The front-month rubber contract on Singapore’s SICOM exchange for August delivery last traded at 140.7 US cents per kg, down 0.9 US cent.
(US$1 = 110.6800 yen)
(US$1 = 6.7254 Chinese yuan)
