TOKYO, Aug 8 (Reuters) – Benchmark Tokyo rubber futures fell0.5 percent on Friday as the yen strengthened against thedollar, marking its first decline in four weeks amid thin tradeahead of Japan’s traditional Obon summer holidays next week.
The benchmark rubber contract on the Tokyo CommodityExchange (TOCOM) for January delivery fell 1.1 yen tosettle at 204.8 yen($2.01) per kg.
The contract fell 1.5 percent over the week, hovering innarrow ranges throughout.
“The fall was directly related to the stronger yen,” said aTokyo-based broker who declined to be identified.
“Ahead of Obon holidays next week, the market stood rigid,unable to make much move.”
The market did not get much support from industry data onThursday that showed crude rubber inventories at Japanese portsfell 4.3 percent to 18,365 tonnes.
The yen rose against the dollar to around 101.80 from 102.40when TOCOM closed on Thursday.
China’s natural and synthetic rubber imports in Julytotalled 280,000 tonnes, steady from the previous month,preliminary trade figures showed on Friday.
The most-active rubber contract on the Shanghai futuresexchange for January delivery fell 15 yuan to finish at15,530 yuan ($2,523) per tonne.
The front-month rubber contract on Singapore’s SICOMexchange for September delivery last traded at 167.50U.S. cents per kg, down 1.3 cent.
(1 US dollar = 101.6800 Japanese yen)
(1 US dollar = 6.1562 Chinese yuan)
(Reporting by Osamu Tsukimori; Editing by Sunil Nair)
