TOCOM rubber falls from 2-week high on weak Shanghai

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TOKYO (Nov 30): Benchmark futures ended down on Thursday after touching a two-week high a day earlier, as the market came under pressure from weak Shanghai futures.

The losses in Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre prices in Southeast , however, were limited due to a weaker yen against the dollar.

The Tokyo Commodity Exchange for May delivery finished 1.2 yen lower at 198.3 yen (US$1.76) per kg.

The dollar firmed 0.1% against the yen to 111.99.

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’s annual industrial output rose for a fourth straight month in October, but much less than expected, as stronger production of rubber, car engines and processed food was offset by weaker output of air conditioners, jewellery and textiles.

The most-active rubber contract on the Shanghai Futures Exchange for May delivery fell 225 yuan to finish at 13,915 yuan (US$2,105) per tonne.

The front-month rubber contract on Singapore’s exchange for December delivery last traded unchanged at 142 US cents per kg.

(US$1 = 112.3900 yen)
(US$1 = 6.6100 Chinese yuan)

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