TOKYO (Aug 3): Benchmark Tokyo rubber futures ended up 0.4% in lacklustre trade on Thursday, after hovering around the previous session’s two-week low amid concerns of oversupply.
Tokyo Commodity Exchange (TOCOM) futures were little changed for most of the session as Shanghai futures stood steady amid a lack of fresh incentives, brokers said.
TOCOM prices remain more than 10% below the highs hit in May amid oversupply of rubber in Asia.
The Tokyo Commodity Exchange rubber contract for January delivery finished 0.9 yen higher at 201.9 yen (US$1.91) per kg, staying close to Wednesday’s two-week low of 200.3 yen.
The most-active rubber contract on the Shanghai futures exchange for January delivery fell 20 yuan to finish at 15,245 yuan (US$2,267) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for September delivery last traded at 146.4 US cents per kg, down 0.4 US cent.
(US$1 = 110.6400 yen)
(US$1 = 6.7234 Chinese yuan)
