TOCOM rubber erases early loss as Shanghai surges

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TOKYO (Nov 28): rubber futures ended unchanged on Tuesday, erasing early losses as the new benchmark Shanghai futures contract traded near a two-week high, brokers said.

() futures, which set the tone for tyre rubber prices in , traded mostly lower during the day as the yen held not far from a two-month high against the dollar.

A stronger yen makes Japanese currency-denominated assets more expensive when purchased in other currencies.

The Tokyo Commodity Exchange rubber contract for May delivery finished unchanged at 196 yen ($1.76) per kg after touching a near two-week high of 197.2 yen on Monday.

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The new most-active rubber contract on the for May delivery fell 105 yuan to finish at 13,980 yuan (US$2,118) per tonne after touching 14,045 yuan earlier, the highest since Nov. 15.

The front-month rubber contract on Singapore’s SICOM exchange for December delivery last traded at 139 US cents per kg, down 0.5 cent.

(US$1 = 6.6018 Chinese yuan)
(US$1 = 111.2500 yen)

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