TOKYO (July 12): Benchmark Tokyo rubber futures snapped two straight sessions of falls on Thursday, on the back of firm Shanghai futures.
Stocks and commodities recovered slightly, but the gains were limited amid fears of an escalation in the U.S.-China trade war, sources said.
“The markets had some time to digest the latest trade war developments and are poised to begin consolidation,” said Masahiro Ichikawa, a senior strategist at Sumitomo Mitsui Asset Management.
The Tokyo Commodity Exchange rubber contract for December delivery finished 0.6 yen higher at 172.6 yen (US$1.54) per kg.
The most active rubber contract on the Shanghai futures exchange for September delivery rose 60 yuan to finish at 10,355 yuan (US$1,554) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for August delivery last traded at 130.3 U.S. cents per kg, up 0.6 cent.
(US$1 = 112.3000 yen)
(US$1 = 6.6633 Chinese yuan)
