Rubber prices across most Asian markets ended Thursday’s session down amid a decline in Shanghai futures and weaker crude-oil prices.
Investors started selling as soon as Shanghai rubber prices fell, said Kaname Gokon, an analyst at Okato Shoji brokerage firm in Tokyo.
A drop in oil prices linked to Russia’s ambivalence on extending a production cap spilled over to rubber prices, he added.
The Tokyo Commodity Exchange rubber contract for new October delivery closed Y3.8 lower at Y215 ($1.93) a kilogram.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 175 yuan to settle at 14,520 yuan ($2,106) a metric ton.
Asian Rubber Futures
Apr 27 Change from previous close
Tocom Oct RSS3 Y215.0/Kg Down Y3.8
Shanghai Sep SCR5 CNY14,520/ton Down CNY175
Sicom May RSS3 223.0 US cents/Kg Down 1.0 US cents
Sicom Aug TSR20 160.2 US cents/Kg Up 2.1 US cents
USS May THB70.17-THB70.37/Kg THB70.31-THB70.51/Kg
(END) Dow Jones Newswires
