TOCOM rubber continues mild recovery as trade tensions ease; pressure remains

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BEIJING (March 28): rubber continued to recover on Wednesday as trade tensions between and the eased further.

Commodity Exchange () futures, which set the tone for rubber prices in , edged up following reports that the world’s top two economies are willing to have talks over tariffs and trade imbalances. But prices would remain under pressure in the mid- to long-term due to high stocks.

“TOCOM recovered a little as Sino-US trade conflicts eased,” said Jiong Gu, an analyst at .

“But prices will remain weak as stocks are still quite high.”

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The for September delivery finished 0.6% higher at 180.2 yen per kg.

The most-active rubber contract on the Shanghai futures exchange for May delivery fell 65 yuan to finish at 11,075 yuan per tonne.

The front-month rubber contract on Singapore’s exchange for April delivery last traded at 137.8 US cents per kg, down 0.6 cent.

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