TOKYO (March 7): Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in Southeast Asia, fell almost 3% on Thursday, shrugging off an agreement among major producers to curb exports.
* The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for August delivery finished 5.7 yen lower, or 2.8%, at 198.9 yen per kilogram
* The International Tripartite Rubber Council (ITRC), which comprises Thailand, Indonesia, and Malaysia, agreed on Wednedsay to curb export by a combined 240,000 tonnes for four months starting April
* The most-active rubber contract on the Shanghai futures exchange for May delivery fell 275 yuan to 12,215 yuan per tonne.
* The US dollar was quoted around 111.71 yen, compared with around 111.75 yen on Wednesday
* US crude prices were little changed, while Brent gained 0.2%
* Japan’s benchmark Nikkei stock average closed down 0.7%
* TOCOM’s technically specified rubber (TSR) 20 futures contract for September delivery closed down 2.8% at 167.2 yen per kg
* The front-month rubber contract on Singapore’s SICOM exchange for April delivery recently traded at 144.6 US cents per kg, down 2.2%.
