Tokyo rubber futures ended lower on Friday due to weaker oil prices, but dealers said prices found a strong support level of 210 yen and could rebound next week. The Tokyo Commodity Exchange rubber contract for December delivery dropped 2.7 yen to settle at 211.9 yen ($2.08) per kg. "Weak oil prices encouraged players to liquidate contracts to avoid risks ahead of the weekend," said a Bangkok-based dealer.
Brent futures held steady above $111 a barrel on Friday on signs of an improving demand outlook, although the benchmark is still set to post its biggest weekly loss since early January as supply worries that have rattled oil markets for weeks recede. Dealers said TOCOM prices could rebound next week after prices finished above a major support level of 210 yen per kg.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 210 yuan to finish at 14,645 yuan ($2,400) per tonne. The front-month rubber contract on Singapore's SICOM exchange for August delivery was last traded at 171.1 US cents per kg, down 3.1 cents.
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