Benchmark Tokyo rubber future prices ended lower Tuesday, weighed down by a firmer yen, while the rubber market in Shanghai closed the session slightly higher.
The yen on Tuesday tiptoed close to 100 to the U.S. dollar for the first time since shortly after the U.K.’s vote to leave the European Union, with interest-rate moves in the U.S. and Japan on the minds of investors. The stronger yen makes the yen-denominated commodity more expensive.
In China, rubber futures contracts moved higher, supported by a broad improvement in the country’s agricultural commodities.
Asian Rubber Futures Aug 16 Change from previous close Tocom Jan RSS3 Y157.1/Kg Down Y1.8/Kg Shanghai Jan SCR5 CNY13,110/Ton Up CNY55/Ton Sicom Sep RSS3 US 169.1 cents/Kg Down US 0.7 cents/Kg Sicom Sep TSR20 US 132.3 cents/Kg Down US 1.0 cents/Kg Asian Physical Rubber Grade Shipment Aug 16Aug 15 RSS3 Sep/Oct 170-161 169-170 STR20 Sep/Oct 133-133 135-136 SIR20 Sep/Oct 132-132 132-133 SMR20 Sep/Oct 132-132 134-135 SVR3L Sep/Oct 140-141 141-142 USS Aug THB53.53-THB54.55/Kg THB54.47-THB55.39/Kg