Benchmark Tokyo rubber futures fell on Tuesday, snapping a five-session rally and retreating from a 16-month high hit earlier in the day, as investors took profits after the yen recovered from a fresh 12-1/2 year low against the US dollar. The Tokyo Commodity Exchange (TOCOM) rubber contract for November delivery finished lower 3.4 yen, or 1.4 percent, at 240.4 yen ($1.93) per kg.
The TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, earlier climbed to as high as 247.9 yen, the highest since January 24, 2014. The front-month rubber contract on Singapore's SICOM exchange for July delivery last traded at 163.5 US cents per kg, down 0.2 cent. China stocks posted another day of solid gains on Tuesday, but the most-active rubber contract on the Shanghai futures exchange for September delivery lost 225 yuan, or 1.5 percent, to finish at 14,730 yuan ($2,376.57) per tonne, battered by a flurry of profit-taking in late trade.
Comments
Comments are closed.