TOKYO (Nov 27): Benchmark Tokyo rubber futures ended lower on Monday, coming under pressure from a late tumble in Shanghai futures, brokers said.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, tend to follow Shanghai for direction.
The Tokyo Commodity Exchange rubber contract for new May delivery debuted at 196.9 yen on Monday, and finished down 0.9 yen at 196 yen per kg. Earlier in the session, it hit 197.2 yen, the highest since Nov. 15.
The most-active rubber contract on the Shanghai futures exchange for January delivery touched a near two-week high earlier, but tumbled before the close to finish at 13,410 yuan (US$2,030) per tonne, down 390 yuan.
The front-month rubber contract on Singapore’s SICOM exchange for December delivery last traded at 138.60 US cents per kg, down 3.3 cents.
(US$1 = 6.6051 Chinese yuan)