Tokyo Commodity Exchange (TOCOM) futures extended losses from early trade on Tuesday, as major producers end curbing exports. The benchmark TOCOM rubber contract for January delivery finished 1.9 yen ($0.0179) lower at 171 yen per kg. The most-active rubber contract on the Shanghai futures exchange for January delivery rose 15 yuan ($2.12) to finish at 11,565 yuan per tonne. China's new technically specified rubber (TSR) 20 futures contract was last down 20 yuan at 9,975 yuan per tonne.
TOCOM's TSR 20 futures contract for February delivery closed at 145.4 yen per kg. The front-month rubber contract on Singapore's SICOM exchange for September delivery last traded at 130.7 US cents per kg, down 0.5%. The world's top producers of natural rubber have decided to end curbs on exports of the commodity.
Von Bundit Co. Ltd, top rubber manufacturer in Thailand, told Reuters on Monday that it was cutting output to be lean. The US dollar was quoted around 106.43 yen, compared with around 106.62 yen on Monday afternoon. Crude oil prices edged up on Tuesday on optimism US-China trade tensions will ease and on hopes major economies will take stimulus measures to ward off a potential economic slowdown that could hit oil demand. Japan's benchmark Nikkei stock average was up 0.55%.
Comments
Comments are closed.