Key Tokyo rubber futures fell to a two-month low on Wednesday, extending their previous day's slump, as political instability in Italy deepened after an election, worsening demand outlook even though China's buying was noted in the physical market. In the physical market, Thai benchmark RSS3 rubber and another Thai grade, STR20, were sold to buyers in China, who had waited for prices to trade at around or below $3 a kg, dealers said on Wednesday.
The benchmark TOCOM rubber contract for August delivery fell 1.6 yen, or 0.6 percent, to settle at 288.2 yen ($3.1) per kg on Wednesday. The contract earlier fell to as low as 284.8 yen, the lowest for any benchmark since December 21. The most-active rubber contract on Shanghai futures exchange for September delivery was up 80 yuan at 24,515 yuan ($3,900) per tonne. The front-month March rubber contract on Singapore's SICOM exchange was at 295 US cents per kg, down 1.7 cents.
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