TOKYO (Nov 28): Benchmark Tokyo rubber futures ended unchanged on Tuesday, erasing early losses as the new benchmark Shanghai futures contract traded near a two-week high, brokers said.
Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, 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 (US$1.76) per kg after touching a near two-week high of 197.2 yen on Monday.
The new most-active rubber contract on the Shanghai futures exchange 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)