TOKYO: TOCOM rubber futures fell on Tuesday paring gains from a five-week high marked earlier in the session as a retreat in stock markets prompted investors to take profits amid uncertainty in global demand.
The most-active Tokyo Commodity Exchange rubber contract for May delivery was down 1.6 yen at 262.3 yen per kg as of 15.37 JST. The benchmark contract hit a five-week high of 264.3 yen in Monday’s evening session, which is a part of Tuesday’s trade.
U.S. auto sales in November raced to a five-year high for that month on a rebound from storm-ravaged October and the need to replace ageing vehicles, leaving industry executives optimistic about 2013.
The dollar traded at around 82.15 yen retreating from a near eight-month high of 82.82 yen hit in late November.
Brent oil prices turned lower on Monday after data showed U.S. manufacturing activity slowed to a three-year low, offsetting more optimistic figures from China.
Source: Rubber Country
